The naira yesterday depreciated to N1,370 per dollar in the parallel market from N1,300 per dollar on Thursday. Similarly, the naira depreciated to N902.45 per dollar in the Nigerian Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to ...

The naira fell to N1089.51/$ on the official Investor and Exporter window on Tuesday. The currency fell by 27.19 per cent from the N856.57/$ it closed on Monday, according to data from the FMDQ Securities Exchange. On Tuesday, the naira opened trading at N922.22/$, rose to a high of N1251/$ ...

The naira exchanged to the dollar at 1,233/$ on Monday at the parallel market, according to Bureau de Change operators. Some BDC operators who spoke to The PUNCH said, the local currency which was bought and sold at 1,228/$ and 1,233/$ had traded at the same rate on Friday. Figures obtained ...

The naira sustained its slide against the United States dollar yesterday, as it weakened to an all-time low on the parallel market where it sold at N1100/$1 for weaker than the N1,060/$1 it traded the previous day. But the nation’s currency traded lower at N1,130 to a dollar for those that ...

The International Monetary Fund has said the naira is currently under pressure and Nigeria is free to seek loan from the Fund to stabilise the currency if it considers a good option. The Washington-based lender however noted that recent exchange reforms and other steps taken by the Nigerian ...

By  Nike Popoola The naira continued its downward trend after exchanging to the dollar at 980/$ at the parallel market on Wednesday. A week earlier, the naira exchanged to the dollar at 950/$. Bureau de Change operators who spoke to The PUNCH attributed the fall to scarcity of foreign ...

By Emeka Anaeto and Peter Egwuatu THERE are indications that exchange rate crises that trailed the foreign exchange market reforms in June 2023 may linger further as supply gap led to further depreciation of Naira in the parallel market yesterday to N930/ $1, down from N925 mid last week. ...

By Babajide Komolafe, Economy Editor; Victor Ahiuma-Young; Obas Esiedesa & John Alechenu THE Naira yesterday recorded significant gain against the dollar in the parallel market and the official Investors and Exporters, I&E window even as the forex market received a major supply boost as ...

By Ogaga Ariemu The naira dropped to a record low of N925/$1 on the parallel market on Wednesday as demand for foreign currency outweighed supply. Mohammed Gazali, a forex trader in Zone 4 Abuja, disclosed this to DAILY POST on Tuesday evening. Similarly, he said the dollar exchanged ...

The Naira on Friday depreciated against the dollar, exchanging at N777.82 at the Investors and Exporters window. The Naira lost by 1.26 per cent when compared with N768.16 for which it exchanged for the dollar on Thursday. The open indicative rate closed at N779.58 to the dollar on Friday. ...

By  Nike Popoola The naira appreciated against the United States dollar on the Investor & Exporter forex window on Wednesday, closing at 793.70/$. The local currency had earlier traded at N825 a week earlier on the I&E window. According to figures obtained from the FMDQ, the ...

The Naira on Tuesday dropped further, exchanges for N763 against the dollar at the Investors and Exporters window. The Naira depreciated by 0.67 per cent when compared with N768.17 for which it exchanged for the dollar at the close of business on Monday. The open indicative rate closed at ...

By Babajide Komolafe, Economy Editor, Peter Egwuatu, Yinka Kolawole, Nkiru Nnorom, Godwin Oritse, Rosemary Onuoha & Elizabeth Adegbesan THE Naira yesterday lost almost half of its value in the official market as the exchange rate in the Investors and Exporters, I&E window rose to N664.04 ...

By  Temitayo Jaiyeola The naira lost 10.2 per cent of its value in 2022, according to the World Bank. This came as rising food and fuel prices were responsible for high inflation in the country in 2022. The global bank revealed this in its latest Africa’s Pulse report for April 2023. It ...

Human Rights Writers Association of Nigeria, HURIWA, on Wednesday, queried the Central Bank of Nigeria, CBN, over the scarcity of new naira notes, a few weeks to the deadline for the validity of the old N200, N500 and N1,000 banknotes. HURIWA’s National Coordinator, Emmanuel Onwubiko, in a ...

Collins Nweze ith over $2.5 billion foreign exchange demand backlog yet to be cleared at the official window and $4 billon at the parallel market, dollar scarcity has entered a disturbing phase in Nigeria’s exchange rate management system. The naira, which exchanges at N440/$1 and N758/$1 in the ...