The exchange rate between the naira and the dollar depreciated closing at N394.33/$1 at the NAFEX. On January 28, 2021, the exchange rate between the naira and the dollar depreciated closing at N394.33/$1 at the NAFEX (I&E Window) where forex is traded officially. Also, the exchange rate at the black market where forex is traded unofficially remained […]
The exchange rate at the black market where forex traded unofficially depreciated at N480/$1 on Tuesday, January 26, 2021. On January 26, 2021, the exchange rate at the black market where forex traded unofficially depreciated at N480/$1. The exchange rate at the parallel market closed at N477/$1 on the previous trading day of January 22, 2021, representing
The exchange rate between the naira and the dollar depreciated closing at N394.50/$1 at the NAFEX Window. On January 25, 2021, the exchange rate between the naira and the dollar depreciated closing at N394.50/$1 at the NAFEX (I&E Window) where forex is traded officially. Forex turnover, however, dropped further by about 10.2% as pressure on the foreign
Naira value declines at NAFEX window as dollar supply continues to declineRead More »
The exchange rate at the black market where forex traded unofficially depreciated at N477/$1. On January 22, 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. Forex turnover, however, dropped by about 42.2% as pressure on the foreign exchange market continues. The
Naira value depreciates across forex markets following CBN’s move against IMTOsRead More »
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
Official (NAFEX) Exchange rate hits N415/$1 during Intra-day tradingRead More »
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 Naira remained stable against the dollar at the Investors and Exporters (I&E) window on Friday, closing at N394.67/$1. On January 15, 2021, the exchange rate between the naira and the dollar remained stable to close at N394.67/$1 at the NAFEX (I&E Window) where forex is traded officially. This is exactly the same rate that was recorded the previous trading
Naira remains stable across forex markets as external reserve continues to riseRead More »
Nigeria’s external reserves rose to the highest level since July 2020. On January 12, 2021, the exchange rate between the naira and the dollar closed at N394/$1 at the NAFEX (I&E Window) where forex is traded officially, a depreciation from the N393.33 recorded on the previous trading day, January 11, 2021. However, the exchange rate at
Nigeria’s external reserves rose to the highest level since July 2020. On January 12, 2021, the exchange rate between the naira and the dollar closed at N394/$1 at the NAFEX (I&E Window) where forex is traded officially, a depreciation from the N393.33 recorded on the previous trading day, January 11, 2021. However, the exchange rate at
Naira falls at NAFEX window as external reserves rises to highest level since July 2020Read More »
