Naira
Naira dips further, trades at N1,687.52 in Official Market
The Naira experienced a slight decline at the official market on Wednesday, trading at N1,687.52 per dollar. This represents a depreciation of 0.51 per cent, with the currency losing N8.59 compared to Tuesday’s rate of N1,678.93 per dollar. Data from the FMDQ Exchange revealed the loss in value occurred alongside a surge in daily turnover, […]
Naira drops against dollar amid fresh fuel price hike
The naira depreciated significantly against the dollar at the foreign exchange market as the Nigerian National Petroleum Company Limited, NNPCL, increased the pump price of Premium Motor Spirit (petrol) for the umpteenth time. FMDQ data showed that the naira weakened to N1625.13 per dollar on Wednesday from N1561.76 exchanged on Tuesday. This represents an N63.37 […]
Naira depreciates to N1,610/$ in official market
The Naira yesterday depreciated to N1,610 per dollar in the parallel market from N1,600 per dollar last week Friday. Similarly, the Naira yesterday depreciated to N1,596.6 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1596.6 per dollar from N1,570.14 per […]
Naira crashes to dollar at official market again
The Naira on Friday depreciated at the official market, trading at N1,596.92 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the Naira lost N30.10. This represents a 1.92 per cent loss when compared to the previous trading […]
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 the previous day’s rate of N1,453.28 against the dollar. However, the total turnover decreased to […]
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 increased the exchange rate from N951.941/$1 in December to N1,356.883/$1 on Friday, February 2nd, 2023. […]