Browsing: Naira

Naira fell against the US dollar for the 11th consecutive trading session on Wednesday, reflecting a lack of adequate foreign currency liquidity to meet international payments.

Naira Depreciates for 10-Day Straight, FX Gap Narrows The Nigerian naira weakened against the US dollar for 10 consecutive days…

Naira Touched Intraday High of N1405/$ in FX Market The naira touched an intraday high of N1405 per dollar at…

The naira’s purchasing power dropped sharply at the official window as foreign payments initiated exceeded the US dollar liquidity at the currency market.

The naira traded negatively against the dominant US dollar at the official window all week despite FX intervention sales by the Central Bank of Nigeria (CBN).

The naira declined against the US dollar at the official window on Thursday, marking the seventh consecutive session of depreciation in the local currency.

Slow but steady, the Nigerian local currency, the naira, continues its downward trajectory for the sixth consecutive day, largely driven by FX liquidity shortfall in the official window.

For the fifth trading session, the naira declined against the US dollar amid tightening liquidity, driven by the Apex Bank’s efforts to prevent the local currency from gaining momentum.

The U.S. dollar (USD) fell against its major trading partners in the forex market, halting the greenback’s successive recovery amidst reaction to the Supreme Court tariff ruling.

The naira dropped at the official window, settling at N1346 per dollar as the rally slowed down after early momentum. For three consecutive trading sessions, the local currency has been pulling back due to increased demand for the US dollar in the currency market.