Naira Continues to Appreciate at Official Market The naira has continued to strengthen on the official trading window, the Nigerian Autonomous Foreign Exchange Market, as the Central Bank of Nigeria launched the new Electronic Foreign Exchange Matching System this week. According to data on the CBN...

Forex Turnover in NAFEM Rises by 61% to $43bn   The volume of dollar traded (turnover) in the Nigerian Foreign Exchange Market (NAFEM) rose Year-on-Year (YoY) by 61.9 percent to $43.09 billion in the first eleven months of 2024 (11M’24) from $26.6 billion in the corresponding...

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 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...

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 Appreciates by 0.9% in Parallel Market The Naira yesterday appreciated to N1, 600 per dollar in the parallel market from N1,615 per dollar on Wednesday. However, the Naira depreciated to N1,586.11 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed...