External Reserve Increases Marginally, Naira Depreciates Further Against Dollar to 1,515/$ The Naira decline persisted on Monday, with further depreciation in the parallel market to 1,515 to a dollar. This represents a 2.97 percent (N45/$1) depreciation when compared to the exchange rate of N1,470 on Friday. The...

Naira Drops to N1,410 per Dollar in Parallel Market The Naira yesterday depreciated to N1,410 per dollar in the parallel market, from N1,395 per dollar last weekend. However, the Naira appreciated in the Nigerian Foreign Exchange Market, NAFEM, to N1,354.21 per dollar. Data from FMDQ showed...

Naira Closes 1,402/$ at Official Market The naira traded at a loss at the official market, depreciating to N1,402 against the United States dollar on Thursday. According to data from the FMDQ exchange securities, the naira dropped by N12 or 0.86 per cent from the N1,390...

Again, Dollar Strengthens Against Naira, Now N1,350/$ The naira further depreciated to N1,350 per dollar at the parallel section of the foreign exchange (FX) market on Monday. The current FX rate represents a 2.27 percent decline from N1,320/$ traded on April 26. Currency traders, known as bureau...

Naira Appreciates to 1,275/$ at Parallel Market The naira has demonstrated signs of strengthening against the United States dollar, appreciating by N125 to reach N1,275/$1 over the weekend. The new rate represents a 9.8 per cent increase when compared to N1,400 to a dollar it traded...

CBN Injects Dollars into BDCs at N1,021 per Dollar   The Central Bank of Nigeria (CBN) has announced the sale of $10,000 to each licensed Bureau De Change (BDC) operator nationwide. This marks the second such intervention this month by the apex bank. In a circular addressed to...