Official Exchange Rate May Hit N430/$ – Report     The nation’s official exchange rate may fall to N430 to the dollar by the end of 2020, United Capital Plc, a pan-African investment banking and financial services group, said on Tuesday. The firm, in its economic forecast for...

Fears Rise Over Naira Devaluation   As uncertainties over further devaluation of the naira by the Central Bank of Nigeria (CBN) continues, foreign exchange traders are threading cautiously with their funds, avoiding speculative transactions. Traders yesterday refused to offer quotes on official foreign exchange market after the...

Naira To Depreciate Further As Demand Gap Widens     The Central Bank of Nigeria (CBN) may be forced to further retract its defence and depreciate the naira as the apex bank increased the bid price for foreign exchange at its Secondary Market Intervention Sales (SMIS) window...

Naira Gains Against Dollar As Forex Rise By 242%     Forex turnover at the Investor and Exporters (I&E) window recorded a huge increase on Monday, June 29, 2020, as it rose by 242%, a significant increase from what was recorded on Friday, June 26, 2020, in the foreign exchange market. This is according...

Naira Depreciates By N24 To N385/$     The Naira depreciated by N24 to close at N385 per dollar on Thursday at the official market. It had exchanged at N361 to a dollar on Wednesday as demand pressure intensified. The pressure on the Naira was heightened after news...

FG Considers Unified Naira Exchange Rate Regime     The federal government on Wednesday hinted of plans to unify the current Naira multiple exchange rate regime as a strategic monetary policy option to generate more local currency from its dollar inflows and manage the rate in a...