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Naira shows mixed performance; depreciates to N1730 in parallel …
Oct 26, 2024 · What to expect With the naira recently breaching the N1,700/$1 mark, there is potential for a short-term recovery. Global oil prices have now stabilized between $79 and $81 per barrel, and the Central Bank of Nigeria’s (CBN) consistent interventions may help ease some inflationary pressures, fostering a more positive outlook for the naira.
Naira shows stability in official market, maintains N1,550/
Dec 18, 2024 · The naira traded within the N1665/$ bandwidth, driven by importers, currency hedgers, and non-financial end-users, despite improved fundamentals in the official market.
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Naira’s exchange rate between official and black market widens …
Dec 12, 2024 · The Central Bank of Nigeria’s unification of the official and parallel foreign exchange market rates is proving unsuccessful, as shown by the market spectrum. The official rate and the black market are now separated by more than N200, which has sparked concerns about a possible disconnect between ...
Naira ends September at lowest exchange rate in seven months at ...
Oct 1, 2024 · Coincidentally, the increase in trade volume on the 26th of September comes a day after the announcement by the Central Bank of Nigeria (CBN) to sell $20,000 to Bureau De Change (BDCs) at N1,590/$ providing for a profit margin of 1%.. The move by the CBN to sell dollars to BDCs was part of effort to provide additional liquidity in the forex market after FX turnover in the previous day fell to ...
Official exchange rate strengthens to N1,300/$1, best in 8 weeks
Mar 27, 2024 · The intra-day high, which represents the highest quotes for trade between the Naira and the Dollar, reached approximately N1,460/$1. The intra-day low was quoted at N1,200/$1, providing an insight into where the exchange rate might settle in the coming days.
Parallel market exchange rate now double official rate as traders …
Nov 5, 2022 · The exchange rate between the naira and dollar sold for N900/$1 according to a cross-section of dealers who claimed to have traded on Saturday 5th November 2022.. This is more than double the official NAFEX exchange rate of N440/$1 reported by the central bank on its website for November 4, 2022.