Exchange rate stabilizes across FX markets. Nigeria’s external reserve dips to 14 months low

Friday, 25th June 2021: The exchange rate between the naira and the US dollar closed at N411.67/$1 at the Investors and Exporters window, where forex is traded officially. Naira remained stable against the US dollar on Friday to close at N411.67 to a dollar, the same as recorded on the previous day. It however represents […]

Naira depreciates at official window as dollar supply drops significantly by 43%

Thursday, 24th June 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 marginally on Thursday against the US dollar to close at N411.67 to a dollar compared to N411.50/$1 recorded on Wednesday, 23rd June 2021. The exchange rate remained stable for the

Naira depreciates at official window as dollar supply drops significantly by 43%Read More »

Naira declines at NAFEX window. External reserve hits a 4-year low

Wednesday, 23rd June 2021: The exchange rate between the naira and the US dollar closed at N411.50/$1 at the official Investors and Exporters window. Naira depreciated on Wednesday against the US dollar to close at N411.50 to a dollar compared to N410/$1 recorded on Tuesday, 22nd June 2021. The exchange rate remained stable for a second

Naira declines at NAFEX window. External reserve hits a 4-year lowRead More »

Naira gains at official window as dollar supply improves significantly by 80%

Tuesday, 22nd June 2021: The exchange rate between the naira and the US dollar closed at N410/$1 at the official Investors and Exporters window. Naira appreciated on Tuesday against the US dollar to close at N410 to a dollar compared to N411.67/$1 recorded on Monday, 21st June 2021. The exchange rate remained stable at the parallel

Naira gains at official window as dollar supply improves significantly by 80%Read More »

Naira depreciates to N500/$1 at parallel market again as forex speculators intensify their activities

Monday, 21st June 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 on Monday against the US dollar to close at N411.67 to a dollar compared to N411/$1 recorded on Friday, 18th June 2021. Also, the exchange rate depreciated at the parallel

Naira depreciates to N500/$1 at parallel market again as forex speculators intensify their activitiesRead More »

Naira depreciates again at parallel market. CBN expected to increase forex allocation to BDCs

Friday, 18th June 2021: The exchange rate between the naira and the US dollar closed at N411/$1 at the official Investors and Exporters window. Naira appreciated on Friday against the US dollar to close at N411 to a dollar compared to N411.5/$1 recorded on Thursday, 17th June, 2021. Also, the exchange rate depreciated at the parallel

Naira depreciates again at parallel market. CBN expected to increase forex allocation to BDCsRead More »

Naira strengthens across FX markets as speculators react to reports of CBN funding to BDCs

Thursday, 17th June 2021: The exchange rate between the naira and the US dollar closed at N411.5/$1 at the official Investors and Exporters window. Naira appreciated on Thursday against the US dollar to close at N411.5 to a dollar compared to N412/$1 recorded on Wednesday, 16th June 2021. Also, the exchange rate gained at the

Naira strengthens across FX markets as speculators react to reports of CBN funding to BDCsRead More »

Exchange rate drops at NAFEX window as external reserves slumps to record low

Wednesday, 16th June 2021: The exchange rate between naira and the US dollar closed at N412/$1 at the Investors and Exporters window, where forex is traded officially. Naira depreciated further against the US dollar on Wednesday to close at N412 to a dollar. This represents a 0.06% decline compared to N411.75/$1 recorded on Tuesday, 15th

Exchange rate drops at NAFEX window as external reserves slumps to record lowRead More »

Naira falls at FX markets despite increase in dollar liquidity

Tuesday, 15th June 2021: The exchange rate between naira and the US dollar closed at N411.75/$1 at the official Investors and Exporters window. Naira depreciated against the US dollar on Tuesday to close at N411.75 to a dollar. This represents a 95kobo decline compared to  N410.8/$1 recorded on Friday, 11th June 2021. Also, the naira

Naira falls at FX markets despite increase in dollar liquidityRead More »

Exchange rate appreciates at official window following FX liquidity improvement by 262%

Wednesday, 9th June 2021: The exchange rate between the naira and the US dollar closed at N410.95/$1 at the official Investors and Exporters window. Naira appreciated against the US dollar on Wednesday to close at N410.95 to a dollar, representing a 0.13% gain compared to N411.50/$1 recorded on Tuesday, 8th June 2021. However, the naira maintained

Exchange rate appreciates at official window following FX liquidity improvement by 262%Read More »