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…
The Naira yesterday depreciated in the parallel market to N1,525 per dollar from N1,520 per dollar last weekend. However, the Naira appreciated to N1,339.33 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,339.33 per dollar from N1,482.81 per dollar last…
The Naira on Monday appreciated in the parallel market to N1,475 per dollar from N1,480 per dollar last weekend. Similarly, the Naira appreciated to N1,468.99 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,468.99 per dollar from N1,497.33 per dollar…
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 nation’s currency, the naira, has taken a downturn, emerging as the world’s worst performing currency in the past month, a recent Bloomberg report says. The reversal came after naira’s recent gains, emerging as the world’s worst-performing currency after a wonderful performance last month. The report, which emerged on Friday, emphasised that the development has…
The declining fortunes of the Naira persisted yesterday with further depreciation in the parallel and official markets due to the re-emergence of speculation and hoarding, even as some Bureaux De Change, BDCs withdrew from the Central Bank of Nigeria, CBN’s, dollar sales program. Vanguard also learnt that despite the sustained nationwide raids and arrest of…
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…
