Naira now N1,235 Per Dollar in Black Market The Naira, on Wednesday, depreciated to N1,035.12 per dollar in the Nigerian Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,035.12 per dollar from N988.46 per dollar on Tuesday. This...

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...

Naira Strengthens, Exchanges for 815/$ at Official Market   The naira strengthened to N815/$ at the Nigerian Autonomous Foreign Exchange Market( NAFEM) 24 hours after the exchange rate fell to the lowest level ever when it sold N993.8/$, representing a massive 20.5% depreciation. Before now, the lowest...