JUST IN: CBN sells $10,000 to BDC operators at N1,101/$
The Central Bank of Nigeria (CBN) has announced it will once again sell dollars to bureau de change operators. This was disclosed in a circular seen on CBN website. The CBN said it is set to sell $10,000 to each…
Naira Appreciates By 1.5% Against Dollar
The Naira experienced a slight appreciation at the official market, trading at N1,431.49 to a dollar on Friday. Data from the official trading platform of the FMDQ revealed that the Naira strengthened by N21.79 or 1.5 per cent, compared to…
Naira gains at parallel market, trades at N1,500/$
Naira has continued its appreciation streak at the parallel section of the foreign exchange (FX) market. The local currency traded at N1,500/$ on Wednesday, representing a gain of 9.09 percent from N1,650/$ recorded on Monday. Currency traders, known as bureau…
Naira volatility: Banks to fix forex rates —CBN
FOLLOWING persistent fluctuations of the naira exchange rate, the Central Bank of Nigeria (CBN) has permitted banks to sell foreign exchange at rates determined by them. With the banks determining their own prices, customers may find better deals on FX…
Again, CBN Adjusts Exchange Rate to N1,413.62/$1
Amid stakeholders’ rejection of the N1,356.883 exchange rate, the Central Bank of Nigeria (CBN) on Saturday readjusted the exchange rate on the Customs platform to N1,413.62/$1. This review of the exchange rate came less than 24 hours after the CBN…
BREAKING: Naira falls to record low of N1,515 /$1 at the black market
Naira has fallen to a record low of N1,515 per dollar following strong demand on the parallel market, also known as the black market. This represents 1.32% or N20.00 weaker than N1,495 it traded in the morning today according to…
BREAKING: Abuja black market traders close shops
In a surprising move, foreign exchange black market operators in Abuja, including those at the bustling Wuse Zone 4 market, abruptly stopped trading on Thursday morning. They attributed their decision to instructions from their union and a significant depreciation of…