Browsing: FX

Naira Sheds Weight Amidst Declining Foreign Reserves The naira depreciated by ₦14.80 to close at ₦1,358.44/$ in the official market,…

The naira dipped against the US dollar at the official window, as data published by the Central Bank of Nigeria (CBN) showed a slump.

The naira was quoted at N1348 per dollar at the official window, reflecting a moderate gain from N1350 previously quoted for international payments.

The Naira closed the trading session in the positive territory at the Nigerian Foreign Exchange Market (NFEM), appreciating by 11bps or ₦1.44 against the U.S. Dollar.

Naira Surges to N1359 on Improved NFEM FX Liquidity The naira recorded another sharp gain on Thursday, as the Central…

Official, Parallel Markets FX Gap Widens as Naira Swings The naira exchange rate gap between the official and informal segments…

The naira showed remarkable strength, appreciating by 0.99% to close at ₦1,344.42 per dollar in the Nigerian Foreign Exchange Market (NFEM). This upward trend reflects a positive shift in currency sentiment within the regulated market, with foreign payments slowing relative to US dollar volume.

Naira Climbs as International Payments Ease as Imports Slow The naira strengthened across both exchange channels on Monday, appreciating 0.62%…

The naira gained on Friday, closing at N1366 per dollar at the official market on Friday from N1371, following the latest round of FX market interventions.

Mr Olayemi Cardoso, Governor, Central Bank of Nigeria (CBN), says reforms in Nigeria’s foreign exchange (FX) market have significantly improved liquidity, restored investor confidence and stabilised the Naira.