ABCON Reveals Why Naira Regained Strength at FX Market
The Association of Bureau De Change Operators of Nigeria (ABCON), has revealed why the Naira is regaining strength against the dollar.
“The development stems from the ‘double-edged sword dollar liquidity injection and the mopping up of the...
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...
Dollar Falls by 8.39% on Parallel Market
Foreign exchange (FX) speculators are now counting losses as the dollar has fallen by 8.39 percent on the parallel market, following some government-announced policies.
From the lowest of N1,310 per dollar, naira has strengthened to N1,200/$1 on the black...
Naira Slumps Further , Exchanges 1,190/$
The naira has maintained its downward trend as scarcity of the dollar bites harder.
At the parallel market, naira commenced trading at 1,175/$ and closed at 1,190/$ on Friday.
Two weeks earlier, the naira had traded at 1,100/$ at the parallel...
Naira Hits All-time Low, Exchanges for 1,100 to a Dollar
The Naira has fallen to an all-time low as it now exchanges for N1,100 per dollar in the black market.
This is according to information obtained on Wednesday morning, from traders in the parallel market .
The...
CBN Raises Dollar Supply, Lifts Ban on Cement, 42 Items
The Central Bank of Nigeria has said it is raising dollar supply in the foreign exchange market, just as it also lifted the ban on 43 items that were previously not qualified for forex at...
