The exchange rate at NAFEX trades at N415/$1 during Intra-day trading NAFEX as forex turnover rises by 233% rise. On January 20, 2021, the exchange rate between the naira and the dollar depreciated closing at N394.17/$1 at the NAFEX (I&E Window) where forex is traded officially. However, during intraday trading, the exchange rate traded for as high […]
On January 18, 2021, the exchange rate between the naira and the dollar appreciated closing at N393.83/$1 at the NAFEX (I&E Window) where forex is traded officially. This is as Nigeria’s external reserves added $1 billion in 15 days to rise to $36.3 billion. Also, the exchange rate at the black market where forex traded unofficially
Naira gains at NAFEX window as external reserves increase by $1 billionRead More »
Pressure on FX will continue in 2021 as a result of thin reserve buffers and recovering domestic demands. EFG Hermes has revealed that pressure on FX will continue in 2021 as a result of thin reserve buffers and recovering domestic demands. The company envisages that adjustment in the country’s current setting is driven primarily by
Nigeria: Pressure on FX to continue in 2021 – ReportRead More »
The exchange rate between the naira and the US dollar for today (Friday, September 4th 2020), stands at ₦440/US$1 in the parallel market. The rate had also closed at ₦440/US$1 yesterday Thursday, 3rd September 2020. Naira: ₦440 Dollar: $1 Date: September 4th, 2020 The exchange rate between the naira and the British pound sterling stands
Daily Parallel Market exchange rate – ₦440/$1; ₦570/₤1; ₦506/€1Read More »
FUGAZ! As much as you would like to make sense of what you just pronounced, it is not a word. Rather, it is an acronym that is ubiquitous in its use in Nigeria’s financial world to represent her tier 1 banks. Each letter of the acronym representing the first letter of each of the banks,
