Browsing: Naira
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.
The naira exchange rate dropped further at the Apex Bank’s official FX window due to increasing demand for foreign payments by eligible market participants.
The Nigerian Naira weakened against the US dollar, depreciating by ₦2.15 to close at ₦1,338.10/US$ compared with ₦1,335.95/US$ previously recorded.
In the official foreign exchange market, the naira appreciated to N1,347 per dollar on Monday, reflecting the absence of significant pressures from international payments.
Naira Opens Strong, Markets Anticipate Stability The naira opened strong on Monday after a previous gain as market confidence remains…
Naira Halts Rally on Foreign Payments, FX Supply Gap The surge in international payment requests at the Nigerian foreign exchange…
The naira declined against the US dollar as significant demand for foreign payments slowed the local currency momentum at the Nigerian foreign exchange market (NFEM).
Naira ‘Swings Right’, Touches Intraday Low of N1,345 The naira swung right against the US dollar, extending its daily rally…
The naira rose against the US dollar at the Nigerian Foreign Exchange Market (NFEM) on Monday to N1,354 as offshore…