Dollar Exchanges for N810 at Black Market The dollar to naira exchange rate improved slightly at the black market selling $1 to N810 against previous trading of $1/N825 while the naira fell again at buying rate of $1/820 as at Monday. Sources from black market confirmed...

Nigerians to Receive Naira for Diaspora Remittances - CBN The CBN has given directive in a circular no TED/FEM/PUB/FPC/001/004 to all Deposit Money Banks, International Money Transfer Operators, and the general public titled ‘Payout option in naira for receipt of proceeds of diaspora remittances’ signed...

CBN Expends $17.81bn To Strengthen Naira   The Central Bank of Nigeria (CBN) drew down Nigeria’s foreign reserves and expended $17.81billion to defend the nation’s weak currency, at the foreign exchange(forex) markets in 2022. According to the apex bank in its Annual CBN Activity Report, in 2022,...

Naira Appreciates To N742/$ At Official Market   The naira yesterday appreciated to N742/$ at the Investors and Exporters (I&E) window. The closing rate represents a major rebound from Tuesday’s N768/$ rate. According to report from FMDQ Exchange, the naira opened at N764/$ and traded tightly around...

Naira Falls to 770.38/$ at Official Market The naira slumped further to the dollar after closing at 770.38/$ at the end of trading on the investor & exporter forex window on Monday. According to figures obtained from the FMDQ on Monday, the trading rates had closed...

External Reserves Shed $438m As Naira Appreciates To N663.04/$   The external reserves fell by $438 million in the first two weeks of June to $34.66 billion, maintaining the downward trend from last month. Data from the Central Bank of Nigeria, CBN, showed that the reserves stood...