Nigeria Currency (Naira) Seem To Dips Further Against Dollar

This is to notify the general public that the Nigeria Currency (Naira) seem to be depreciating against Dollar at the parallel market and the exchanging rate is at N367 to the dollar on Monday. Despite the Central Bank of Nigeria (CBN) intervening at the foreign exchange market to stabilize the naira, Traders still complain that the demand for foreign exchange outstripped its supply. According to reports, the Nigerian currency (Naira) lost one point from N366 posted on Friday, while the Pound Sterling Read more [...]

Forex Market Get Boosts With $195 By The Central Bank Of Nigeria (CBN)

This is to inform the general public that on Monday, the Central Bank of Nigeria (CBN) boosted the Foreign Exchange (FOREX) market by 195 million dollars intervention in three segments of the market. This statement was made in Abuja on that same Monday by the CBN the Acting Director, Corporate Communications Department, Mr Isaac Okorafor, who also said that in the wholesale segment of the inter-bank foreign exchange market, the bank auctioned 100m dollars and also intervened in the Small and Medium Read more [...]

Nigeria Currency (Naira) Gain, Closes At $363 Per Dollar

This is to inform the general public that the Nigeria Currency (Naira) reverses gain, closed at 365 Per United States Dollar at the parallel market on Sunday, and this made it to reverse the gain it recorded in the past week. Last Monday in the foreign market, the Nigeria Currency (Naira) was initially traded at 365/dollar which recorded slightly after the Central Bank of Nigeria sold $462m to players in the foreign exchange market, and the regulator specifically sold at the total sum of $462,336,426.74. NOTE: Read more [...]

Nigeria Currency (Naira) Gains Against Dollar

This is to inform the general public, most specially the traders and foreign exchange dealers that on Wednesday the Nigeria currency (Naira) appreciated marginally against the dollar at the parallel market and it gained 50k to exchange at N362.50, stronger than N363 posted on Tuesday, while the Pound Sterling and the Euro traded at N473 and N422 respectively. * The Naira was sold for N363 at the Bureau De Change window (BDC). * The Pound Sterling and the Euro traded at N472 and N423 respectively. * Read more [...]

Nigeria Moves Closer to Single Nigeria Currency (Naira) Rate

The interbank rate weakened 14 percent to 366.04 per dollar as of 5:42 p.m. in Lagos, close to 367.08 for the so-called Nafex rate, the daily fixing published by FMDQ for the Investors’ & Exporters’ FX window. Naira three-month forward contracts based on the official rate rose as much as 1.3 percent to 342 against the greenback, the highest level on a closing basis since June 6. Nigeria has faced dollar shortages since the price of oil, its main export, crashed in 2014 and the central Read more [...]

At The Parallel Market, Nigeria Currency (Naira) Rebounds Against Dollar

This is to inform all the foreign change dealers that the Nigeria Currency (Naira) has regained strength against the dollar at the parallel market, today Monday the 24th July. The exchange rate at N365 to the dollar at the parallel market, stronger than N366 posted on Friday, while the Pound Sterling and the Euro traded at N475 and N420, respectively. BUREAU DE CHANGE (BDC) WINDOW RATE: * Naira traded at N362 to the dollar (Naira, depreciated at the investors’ window as it closed at N367.3 Read more [...]

Parallel Market – Nigeria Currency (Naira) Appreciates In NAFEX, Parallel Market

In the parallel market, the Naira yesterday appreciated against the Dollar and in the Investors & Exporters window due to boost in Dollar supply. This Naira appreciation is by N1 in the parallel market segment, as the parallel market exchange rate dropped to N366 per dollar yesterday from N367 per Dollar on Thursday. NOTE: This was attributable to dollar injection into the BDC segment by the Central Bank of Nigeria (CBN) and the apex bank sold $20,000 to each of the 3,145 BDCs across the Read more [...]

Nigeria Currency (Naira) Gains Slightly Against Dollar

This is to notify the general public that on Thursday that the Nigeria currency (Naira) appreciated against the dollar in the parallel market. The local currency appreciated by N1 in the parallel market segment and Naira exchange rate dropped to N366 per dollar from N367 on Wednesday. (On Monday Central Bank of Nigeria (CBN) intervention – supply of 195 million dollars – stabilized the market). According to Isaac Okorafor, he said 100 million dollars was offered through the wholesale segment Read more [...]

Nigeria Currency (Naira) Depreciates To N363.57 Per US Dollar At NAFEX

This is to inform the general public and foreign marketers that Nigeria Currency (Naira) as at yesterday depreciated to N363.57 per US dollar at the Nigeria Autonomous Foreign Exchange Market (NAFEX) window. The naira however remained stable at N367 per US dollar in the parallel market yesterday, while the Central Bank of Nigeria (CBN) sold $20,000 to each of the 3,145 bureaux de change (BDCs) across the country. This complements the $195 million injected by the apex bank into the interbank market Read more [...]

Nigeria Currency (Naira) Depreciates To N363.57 Per US Dollar At NAFEX

This is to inform the general public and foreign marketers that Nigeria Currency (Naira) as at yesterday depreciated to N363.57 per US dollar at the Nigeria Autonomous Foreign Exchange Market (NAFEX) window. The naira however remained stable at N367 per US dollar in the parallel market yesterday, while the Central Bank of Nigeria (CBN) sold $20,000 to each of the 3,145 bureaux de change (BDCs) across the country. This complements the $195 million injected by the apex bank into the interbank market Read more [...]