Naira declines at the parallel market despite a 128% increase in dollar supply

Friday, 2nd July 2021: The exchange rate between the naira the US dollar closed at N411.25/$1 at the Investors and Exporters window, where forex is traded officially. Naira depreciated against the US dollar on Friday, having lost 55 kobo to close at N411.25/$1 compared to N410.7/$1 recorded on Thursday, 1st July 2021. The local currency fell […]

Exchange rate falls across FX markets. Crypto investors lose over $40.35 billion

Wednesday, 30th June 2021: The exchange rate between the naira and the US dollar closed at N411.5/$1 at the official I&E window. Naira depreciated against the US dollar on Wednesday to close at N411.5 to a dollar compared to N410.83/$1 rate recorded on Tuesday, 29th June 2021. The exchange rate also depreciated against the US

Exchange rate falls across FX markets. Crypto investors lose over $40.35 billionRead More »

Exchange rate gains at official window as dollar supply increases significantly by 115%

Tuesday, 29th June 2021: The exchange rate between the naira and the US dollar closed at N410.83/$1 at the Investors and Exporters window. Naira gained 0.11% against the US dollar on Tuesday to close at N410.83/$1 compared to N411.28/$1 recorded in the previous session. The naira remained stable at the parallel market as it closed

Exchange rate gains at official window as dollar supply increases significantly by 115%Read More »

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

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