Browsing: Naira

Naira Strengthens by N8.46 Against the US Dollar  The Naira exchange rate improved versus the dollar at the official FX…

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

The naira strengthened across both exchange channels on Thursday, appreciating by 0.34% to N1,371.51/$ at the Nigerian foreign exchange market (NFEM) window.

The naira gained sharply at the official window as foreign reserves topped the $50 billion mark for the first time since January 2009, according to updated Central Bank of Nigeria (CBN) data.

Halting a 2-week downtrend, the naira appreciated at the official market on Tuesday, trading at N1,401.40 per dollar, according to data published by the Central Bank of Nigeria (CBN).

The exchange rate gap in Nigeria’s foreign exchange market has collapsed sharply as the spot rate has maintained a downward trend for 14 consecutive trading sessions.

The naira depreciated slowly and steadily over 13 consecutive trading sessions at the Nigerian Foreign Exchange Market (NFEM), according to trading data tracked by MarketForces Africa.

The Naira depreciates over 12 trading sessions at the Nigerian foreign exchange market (NFEM) as pressure on offshore payments continues to reduce the official value of the Nigerian local currency.

The naira depreciated across the foreign exchange market due to tight liquidity in the official and informal segments of the local currency market.

The naira exchange rate worsened for 11 consecutive trading sessions in the currency market as pressure from dollar demand persisted amidst soft interventions.