Naira Gains by Over 8% in One Week The naira appreciated by N137.69 against the United States dollar within a week, following the introduction of the Central Bank of Nigeria’s new foreign exchange platform. Data obtained from the CBN’s website on Sunday showed that the closing...

Naira Appreciates by 5.5% at Parallel Market The naira recorded a huge gain against the US dollar at the parallel market, hitting N1640/$1, at the close of business on Wednesday, December 4, 2024. This represents a 5.2% or N90 gain against the dollar when compared to...

Naira Depreciates by 0.29% in Parallel Market The Naira today depreciated to N1,745 per dollar in the parallel market from N1,740 per dollar on Thursday. Similarly, the Naira depreciated to N1,672.69 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the...

Naira Drops to N1690.37/$ as Dollar Supply Declines   The naira weakened by 2.31 per cent or N38.12 on Monday at the National Autonomous Foreign Exchange Market to N1690.37/$ compared to 1652.25/$ that it had closed the previous week at. According to FMDQ data on Monday, the...

Report Reveals Naira May Weaken to N1,993/$1   The naira is forecasted to depreciate to N1,993 against the United States dollar by 2028, posing a significant challenge to Nigeria’s pharmaceutical industry, particularly in importing essential medical devices, a new report by BMI, a Fitch Solutions subsidiary,...

Naira Appreciates, Exchanges at N1,639 per Dollar After depreciating to N1, 681 a day before, the naira appreciated on Thursday closing at N1,639 to one dollar. The naira hit an all-time high of 1,681 following increased demand in the foreign exchange market. Spot data from the FMDQ...