Tag: Naira
Naira now Africa’s 9th weakest currency – Forbes
Experts say the drop was helped by steady inflows of foreign exchange from oil sales and remittances, better farm output,…
Import costs fall as exchange rate strengthens to N1,480/$
The parallel market also reflected the trend, with the naira exchanging between N1,490 and N1,495 this week.
Naira to appreciate to N1300, food prices to reduce significantly before yuletide – BUA Chairman, Rabiu
These are the strongest levels recorded in over a year, further fueling hopes that Rabiu’s projection may be achieved if…
Again, CBN warns Nigerians against spraying, writing on Naira
Deputy Governor of Operations, Mr. Bala Bello, represented by Dr. Adetona Adedeji, Director of Currency Operations and Branch Management, condemned…
Naira strengthens as CBN slashes interest rate for first time in five years
Traders, businesses and households alike will be watching closely in the coming days to see if the positive momentum continues…
Naira strengthens to N1,497/$ as CBN begins key interest rate talks
Some Fed officials, including Governor Stephen Miran, had pushed for a deeper 50 basis point cut. His upcoming speech could…
FX: After weeks of gains, naira stumbles against the dollar
According to data from the Central Bank of Nigeria on Wednesday, the official exchange rate slipped to ₦1,494.03 per dollar,…
FX: Naira shows signs of recovery, dives below N1,500/$
This is its strongest level since March 5, 2025. For the second time this week, the naira traded below the…
Naira gains ground as Chinese accept local currency for trade
This shift follows the Nigeria-China bilateral currency swap agreement signed in December 2024, worth N3.28 trillion (15 billion yuan).
Naira strengthens to N1,540 against US Dollar as gap with official market narrows
Naira strengthens to N1,540 as gap with official market narrows.
Currency watch: Naira dips by 19 kobo against dollar as week ends
The Naira traded at 1,533.74 to the dollar, showing a small decline compared to the previous day’s rate of 1,533.55.
Naira loses against dollar at official market
On Monday the Naira opened the trading week with slight gain trading at 1,534.20 to a dollar.
Naira stumbles again: Dollar gains ground in shocking Weekend drop
The week began on a relatively positive note, with the Naira gaining marginally on Monday to trade at N1,534.20 against…
CBN data shows naira appreciates slightly, external reserves climb
Nigerian naira began the new trading week on a positive note, recording a slight appreciation against the United States dollar…
Naira’s fate hangs in balance as Dollar inches ahead
Analysts note that the Naira’s performance aligns with broader economic dynamics, including Nigeria’s reliance on oil exports, which account for…
Dollar strikes back: Naira loses grip in stunning Friday fall
These reforms, including the unification of exchange rates and increased market-driven pricing, have been pivotal in stabilizing the Naira amid…
Naira roars back, records major gains against Dollar
The naira’s uptick coincides with high praise from the International Monetary Fund (IMF) in its 2025 Article IV Consultation report…
Tinubu paying for Buhari’s economic mistakes – Oshiomhole
The Ways and Means provision allows the Federal Government to borrow from the CBN when it needs emergency funds to…
CBN data shows Naira recovery as depreciation streak ends
Central Bank has reiterated its commitment to stabilizing the foreign exchange market through various interventions, including tightening monetary policy, managing
Naira wobbles after Sallah, Democracy Day breaks, dips against the Dollar
The market closures caused by the Eid-el-Kabir (Sallah) holiday from Friday, June 6 to Monday, June 9, and the June…
Naira Roars Back: Local Currency hits ₦1,580.44 in stunning rally against Dollar
Analysts say the naira’s impressive climb is a reflection of renewed confidence in the economy, increased forex supply, and effective…
Naira storms ahead, pounds Dollar with fresh gains
This follows a subtle yet significant 0.02% rise recorded earlier in the week, signalling a wave of renewed resilience in…
Naira bounces back, clocks N1,600.44 to Dollar after stunning Market rally
Monday’s appreciation continues the Naira’s positive momentum, offering a potential signal of stabilisation in the foreign exchange market after recent…
Naira plunges to N1,629/$1 as demand for dollar intensifies
Nigeria's foreign exchange market came under pressure on Monday, with the Naira depreciating to N1,629 per dollar at the official…
Naira takes a hit, official rate falls 0.93% against US Dollar
Despite a period of relative stability since December 2024, fueled by CBN reforms aimed at increasing transparency in the forex…
Naira roars to life! Gains N29.89 as CBN moves to stabilise Market
This surge represents a sharp contrast to Thursday’s close of N1,547.82 per Dollar, signaling renewed optimism among traders and businesses…
Naira loses weight against U.S. Dollar in unofficial market
The Nigerian naira has taken a hit, weakening to N1,561 against the American dollar in the black market.
How CBN’s interventions stabilised FX market, Naira – Expert
Oyalowo said the interventions have helped to stabilise the Foreign Exchange (FX) market and the naira, in a statement he…
CBN’s reforms yield positive results as Naira ends week stronger against Dollar
The Naira further appreciated in the official market on Friday, trading at N1,474.78 to the Dollar.
Naira further gains by 0.78% against dollar
CBN also unveiled the Nigeria Foreign Exchange (FX) Code, aimed at sanitising the banking industry to promote ethical conduct.