Naira Depreciates to N1,700/$ at Parallel Market The naira depreciated to N1,700 per dollar at the parallel section of the foreign exchange (FX) market on Friday. At the end of trading hours, the naira depreciated by 1.49 percent compared to the N1,675/$ traded on Thursday. The N1,700...

Naira Declines by 8.2% Against Dollar Nigeria’s naira has continued its downward slide, falling to a new low of N1,677 per dollar at the official close on Wednesday, according to data from FMDQ compiled by Bloomberg. This represents a decline of 8.2 per cent since the...

Naira Crashes by N34 Against Dollar at Parallel Market The downward slide of the local currency worsened yesterday as the naira exchanged for N1, 639.41 to a dollar at the official rate. The figure yesterday indicated a whooping loss of N34 after the dollar exchanged for...

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...

Naira Gains Further at Official Market The naira on Monday gained further at the official foreign exchange (FX) market after the Central Bank of Nigeria (CBN) conducted its second retail Dutch auction, selling $815.36 million to 26 banks on Friday. After trading on Monday, the naira...