Naira Declines by 8.2% Against Dollar Nigeria’s naira has continued its downward slide, falling to a new low of N1,677 per dollar at the official close on Wednesday, according to data from FMDQ compiled by Bloomberg. This represents a decline of 8.2 per cent since the...

Naira Crashes by N34 Against Dollar at Parallel Market The downward slide of the local currency worsened yesterday as the naira exchanged for N1, 639.41 to a dollar at the official rate. The figure yesterday indicated a whooping loss of N34 after the dollar exchanged for...

Renewed Naira Depreciation Begins As Market Turnover Drops By 25% There are indications that another round of Naira depreciation has set in following renewed demand pressure amidst widening supply gap. The Naira yesterday depreciated to N1,635 per dollar in the parallel market from N1,625 per dollar...

Naira Gains Further at Official Market The naira on Monday gained further at the official foreign exchange (FX) market after the Central Bank of Nigeria (CBN) conducted its second retail Dutch auction, selling $815.36 million to 26 banks on Friday. After trading on Monday, the naira...

Naira Closes at N1,597/$ as Dollar Supply Rises to 141.99m The naira closed at the rate of N1,596 against the United States dollar on Thursday, maintaining the same rate as it closed on Wednesday. The naira traded at an intra-day high of N1,616 and a low...

Naira Appreciates by 0.6% at Official Market The Naira on Monday appreciated at the official market, trading at N1,607.15 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market, NAFEM, showed that the...