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...

Naira Weakens Further as FX Turnover Declines by 71%   The naira fell on Monday at both the official and black markets to 1670.75/$ and 1748/$, respectively, as the daily foreign exchange turnover in the official market dropped by 71 per cent to $81.17m. This comes amid...

Naira Now 1,710 per Dollar at Parallel Market The Naira yesterday depreciated to N1,710 per dollar in the parallel market from N1,690 per dollar on Wednesday. Similarly, the Naira depreciated to N1,660.49 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that...

Naira Depreciates to N1,700/$ at Parallel Market The naira depreciated to N1,700 per dollar at the parallel section of the foreign exchange (FX) market on Friday. At the end of trading hours, the naira depreciated by 1.49 percent compared to the N1,675/$ traded on Thursday. The N1,700...