Tuesday, 7th September 2021: The exchange rate between the naira and the US dollar closed at N410.67/$1 indicating a further appreciation at the official Investors and Exporters window. Naira gained against the US dollar on Tuesday, to close at N410.67/$1 compared to N411.13/$1 recorded at the close of trade on Monday, 6th September 2021, representing […]
Nigeria attracted $4.2 billion in foreign remittances in the first quarter of 2021 as the country continues to grapple with foreign currency challenges. The data is obtained from the central bank’s balance of payment data published on its website. Workers remittances, as the central bank’s data captures it, depicts the amount of dollar inflows sent
Diaspora Remittances into Nigeria fall by 24% in Q1 2021Read More »
Wednesday, 1st September 2021: The exchange rate between the naira and the US dollar closed at N411.50/$1 at the Investors and Exporters window, where forex is traded officially. Naira depreciated against the US dollar to close at N411.50/$1 on Wednesday, representing a 42 kobo drop when compared to N411.08/$1 recorded at the close of trading on
Friday, 27th August 2021: The exchange rate between the naira and the US dollar closed at N412/$1 at the Investors and Exporters window, where forex is traded officially. Naira depreciated against the US dollar to close at N412/$1 on Friday, representing a N1.12 loss when compared to N410.88/$1 recorded at the close of trading on
Naira falls sharply across forex markets despite 32% increase in dollar supplyRead More »
Wednesday, 25th August 2021: The exchange rate between the naira and the US dollar closed at N412/$1 at the Investors and Exporters window, where forex is traded officially. Naira depreciated against the US dollar on Wednesday to close at N412/$1, representing a N1 differential depreciation compared to N411/$1 recorded at the close of trading on
Naira falls at official market as foreign reserves plunges furtherRead More »
Monday, 23rd August 2021: The exchange rate between the naira and the US dollar closed at N411.83/$1 at the official Investors and Exporters window. Naira depreciated against the US dollar on Monday to close at N411.83/$1, representing a 0.04% depreciation compared to N411.67/$1 recorded at the close of trading on Friday, 20th August 2021. Meanwhile,
Naira continues to depreciate at forex market despite significant surge in dollar supplyRead More »
Monday, 16th August 2021: The exchange rate between the naira and the US dollar closed at N411.67/$1 at the official Investors and Exporters window. Naira depreciated against the US dollar to close at N411.67/$1 on Monday, representing a 0.21% drop when compared to the N410.80/$1 that was recorded the previous trading day. However, the naira still remained
Naira slumps at official market despite 7.5% rise in forex liquidityRead More »
Oil prices started the week bearish by more than 1%, dropping for a third consecutive session. The reason for the decline can be traced to official data which disclosed that the refining throughput and economic activity of China, the world’s biggest oil importer, decelerated. This is an indicator that fresh COVID-19 Delta variant outbreaks are
Brent slips below $70 for the second time in barely a weekRead More »
Friday, 13th August 2021: The exchange rate between the naira and the US dollar closed at N410.80/$1 at the official Investors and Exporters window. Naira appreciated against the US dollar to close at N410.80/$1 on Wednesday, representing a 0.21% gain when compared to the N411.67/$1 that was recorded the previous day. However, the naira still remained stable at the
Exchange rate appreciates at official market despite 27.8% drop in dollar supplyRead More »
Wednesday, 4th August 2021: The exchange rate between the naira and the US dollar closed at N411.50/$1 at the official Investors and Exporters window. Naira remained stable against the US dollar to close at N411.50/$1 on Wednesday, the same rate when compared to N411.50/$1 recorded on the previous day. Also, naira appreciated at the parallel market to close at N506/$1,
