After weeks of depreciation, the Naira recorded its first N61.38 appreciation against the Dollar at the official foreign exchange market. FMDQ data showed that it appreciated by N1459.02 per Dollar on Wednesday compared to N1520.40 on Tuesday. This represents a 4.2 per cent gain against the Dollar on Wednesday compared to the previous day. Similarly,…
The Naira has resumed depreciation against the Dollar in the foreign exchange market. FMDQ data showed that the Naira depreciated to N1402.67 per Dollar on Thursday from N1,390.96 on Tuesday. This represents an N11.71 loss compared to the N1,390.96 recorded on Tuesday. Meanwhile, at the parallel market, the Naira appreciated to N1340 per Dollar on…
The Naira on Tuesday appreciated to N1,320 per dollar in the parallel market, from N1,340 per dollar on Monday. Similarly, the Naira appreciated in the Nigerian Foreign Exchange Market, NAFEM, to N1,390.96 per dollar. Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,390.96 per dollar from N1,419.11 per dollar on…
Northern coalition condemns high cost of goods, Naira official window For the sixth consecutive day, Nigerian currency Naira continued its fall against the American dollar at the official window as the domestic currency traded at N1,309.88/$1. This is according to data sourced from the Nigerian Autonomous Foreign Exchange Market (NAFEM), it was gathered. At the…
The Association of Bureau De Change Operators of Nigeria, ABCON, has blamed peer-to-peer cryptocurrency platforms like Binance for the recent depreciation of the Naira against the Dollar in the foreign exchange market. The National President of ABCON, Aminu Gwadabe, disclosed this in an interview with NAN on Wednesday. He stated that as long as Binance…
The Naira has depreciated in the Nigerian Foreign Exchange Market, NAFEM, to N1,300.15 per dollar exceeding the parallel market rate by N45.15. Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,300.15 per dollar from N1,234.49 per dollar last week Friday, indicating N65.66 depreciation for the naira. Similarly, the Naira depreciated…
