Naira Appreciates, Sells for N1,600/$ at Parallel Market The naira, on Monday, appreciated to N1,600 per dollar at the parallel section of the foreign exchange (FX) market. It gained 1.23 percent from the N1,620/$ traded reported on March 8. Currency traders in Lagos, also known as Bureau...

Naira Drops to ₦1,399 Per Dollar at Official FX Market The Nigerian foreign exchange (FX) market witnessed a historic drop in the value of the naira, reaching an unprecedented intraday rate of N1,399 per dollar at the official market on Thursday. Data sourced from the Financial...

Nigeria’s Total FX Inflows Increase by 15.6%, Hit $1.43bn in November   The Central Bank of Nigeria’s (CBN) initiatives at increasing FX supply got a huge boost as data obtained from FMDQ at the weekend, revealed that total inflows into the Nigerian Autonomous Foreign Exchange Market...

In Seven Months, Forex Turnover Hits N22trn On FMDQ   The turnover of foreign exchange on the FMDQ hit N22.98tn ($44bn) in the period between January and July 2023. This was revealed in the August edition of the FMDQ Spotlight, a monthly publication by the exchange. FMDQ is...

Forex Inflows Rises to $2.55bn in Two Months - Report  The total inflows into the Investors and Exporters Window rose to $2.55bn in the months of May and June, according to data obtained from the FMDQ. The data indicated that total inflows into the 1&E window...

Report Reveals Forex Turnover Crashes By 47%   The foreign exchange turnover of Naira against the United States of American dollar on the Investors & Exporters window fell by 47.08 per cent in April. This was disclosed in the monthly report of activities on the FMDQ which...