Exchange rate remains stable across FX markets as dollar supply rise significantly by 135%

Wednesday, 7th July 2021: The exchange rate between the naira and the US dollar closed at N411.45/$1 at the Investors and Exporters window, where forex is traded officially. Naira remained stable against the US dollar on Wednesday to close at N411.45/$1. This was the same rate that was recorded on Tuesday, 6th July 2021. Also, […]

Naira gains at official market as oil prices hit 3-year high

Monday, 5th July 2021: The exchange rate between the naira the US dollar closed at N411.13/$1 at the Investors and Exporters window, where forex is traded officially. Naira appreciated marginally against the US dollar on Monday, having gained 12 kobo to close at N411.13/$1 compared to N411.25/$1 recorded on Friday, 2nd July 2021. The local currency

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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

Naira declines at the parallel market despite a 128% increase in dollar supplyRead More »

Naira gains at forex market despite significant fall in dollar supply

Thursday, 1st July 2021: The exchange rate between the naira the US dollar closed at N410.7/$1 at the Investors and Exporters window, where forex is traded officially. Naira appreciated against the US dollar on Thursday, having gained 80 kobo to close at N410.7/$1 compared to N411.5/$1 recorded on Wednesday, 30th June 2021. The exchange rate

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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 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 »