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The Naira raced to N2,000 per dollar at the black market on Saturday despite the Central Bank of Nigeria’s sale of dollars to the Bureau De Change operators. A BDC operator, Dayyabu Ashiru confirmed to DAILY POST that Naira was exchanged for N1,670 per dollar on Saturday from the N1665 exchange rate last Friday. “We
The dollar index remained near its weekly high, while the Nigerian naira fell below a key support line. The local currency dropped below the N1,600/$ support level in the black market. Market fundamentals indicate renewed demand pressure and an expanding supply gap, leading to another round of naira depreciation. The naira’s value fell from N1,625
The Naira depreciated massively against the dollar in the foreign exchange market. FMDQ data showed that the Naira weakened significantly to N1561.98 against the dollar on Wednesday from N1532.58 traded on Tuesday. This represents an N29.4 against the dollar compared to the N1532.58 traded on Tuesday. Similarly, at the parallel foreign exchange market, the Naira fell
The exchange rate between the naira and the dollar reached an intra-day high of N1,515 on Monday, according to data from FMDQ, where currencies are traded officially. This represents the worst intra-day high in nearly two months as Nigeria continues to grapple with demand pressures and a globally stronger dollar. The last time the intra-day
The local currency depreciated further at the official market, on Friday, closing at N1,466.31 to a dollar at the official market, The dollar to naira exchange rate increased by N40 between Thursday and Friday having closed to N1,426 to a dollar, according to the National Autonomous Foreign Exchange Market (NAFEM), the official exchange market. Akelicious
In the opening trading session of May at the NAFEM window, the Naira experienced a slight decline, settling at N1,402.67 to the dollar, which is a 0.83% decrease from the previous close of N1,390.96 in April. Market data from FMDQ revealed a fluctuation within the day, with the Naira hitting a peak of N1,445 and
The Naira experienced a decline on Thursday afternoon, falling to N1,450 per dollar in the parallel market. This represents a decrease of 8.28% or an N120 difference from the N1,330 reported earlier in the morning. This is according to data culled from currency traders. The Bureau De Change (BDC) operators listed the purchase rate at N1,350
Nigeria’s official exchange rate fell to a month to date low of N1,300/$1 on Tuesday April 23, 2024 according to data from the FMDQ, where the exchange rate trades officially. This represents a 5.05% depreciation from the N1,234.49/$1 reported on the first day of the week, continuing with the weakness that started on Friday.
The exchange rate between the Naira and Dollar on the official NAFEM window fell to a week to date low of N1,234.49/$1 on Monday, 22nd of April, 2024. This is according to data from the FMDQ where the exchange rate is traded officially and end of day posts quoted. This is a sharp depreciation from