On Monday, the Naira strengthened to N1,580 per dollar in the parallel market, up from N1,585 per dollar over the weekend. In a similar trend, the Naira rose to N1,570.99 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) yesterday. According to data from FMDQ, the indicative exchange rate for NAFEM decreased from N1,574.2…
The Naira has continued to appreciate against the dollar in the forex market despite the ongoing protests against misgovernance across the country. This comes at a time when the Naira has gained tremendous value in the official and stable forex market. , FMDQ data showed that the Naira appreciated against the dollar from N1,608.73 on…
The Naira yesterday appreciated to N1,565 per dollar in the parallel market from N1,585 per dollar last Friday. However, the Naira depreciated to N1,548.76 per dollar in the Nigerian Autonomous Foreign Exchange Market, Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,548.76 per dollar from N1,500.32 per dollar on Monday,…
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…
The naira depreciated further against the dollar as the foreign exchange market resumed trading. At the parallel market, the naira weakened to around N1505 against the dollar on Monday from 1490 last Friday. Similarly, FMDQ data showed that the naira dropped to N1490 against the dollar on Monday from N1485.53 last Friday. This represents a…
The naira continued its depreciation against the dollar despite a surge in foreign exchange reserves. FMDQ data showed that the naira depreciated slightly to close at N 1485.53 against the dollar on Friday from N 1485.36 traded on Thursday. This represents a marginal N0.17 loss against the dollar compared to the 1485.36 traded the previous…
The Naira appreciated marginally to N1480 against the dollar at the parallel foreign exchange market, also known as the black market, amid the Sallah holidays. Dayyabu Ashiru, a bureau de change operator at Wuse Zone 4 in Abuja, disclosed this to newsmen He noted that demand for foreign exchange had remained flat due to the…
The naira appreciated against the dollar at the official foreign exchange market on Monday. FMDQ data showed that the naira appreciated slightly to N1,483.62 against the dollar on Monday from N1,483.99 traded last Friday. This represents N0.37 gain compared to N1, 483.99 traded last Friday. Similarly, at the parallel market section, the naira increased to…
The naira appreciated against the dollar in the foreign exchange market. According to FMDQ data, the naira was exchanged at N1,481.49 for a dollar on Thursday, compared to N1,488.60 on Wednesday. This represents a slight N7.11 appreciation. Similarly, in the parallel market section, the currency appreciated to N1,485 against the dollar on Thursday from N1,500…
The naira on Tuesday traded at the same rate of N1,339.33 to a dollar at the official market. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market, NAFEM, revealed that the naira remained static. This indicated that the local currency neither gained nor lost…
