Naira drops to N890/$1 in black market as FX crisis worsens
The parallel market sector of the foreign exchange market is currently not favourable for the Nigerian Naira as it has dropped to…
Dollar-Naira rate
Naira crashes to N885/dollar in parallel market
The parallel market, often known as the black market, saw a new low for the Naira on Thursday of N885 per dollar.…
Nigeria loses $167.2m as naira falls to dollar in July
By Christian George Nigeria’s external reserves witnessed a downward trend as the nation lost $167.2 million in July over the…
Exchange rate hits N869/$ on I&E Window
The naira-dollar exchange rate hit an intra-day high of N869/$1 at the Investor & Exporter Window. This is based on information from…
Naira gains at I&E window, closes at N791.42
The Naira rose marginally versus the US dollar on the Investor and Exporter market on Tuesday, a day after the local currency fell…
Confusion as official FX rate, black market widens
Nigeria’s official currency rate, which has been edging closer to N100/$ as of last Friday, is now significantly different from those on…
Naira falls at official, black markets, increases at parallel market
In the Investors and Exporters and parallel market windows of the foreign exchange market on Friday, the Nigerian Naira fell against the US Dollar…
Naira crashes to N888/$1 on Binance
The naira/dollar exchange rate has fallen to N888/$1 on the cryptocurrency market, Binance. Currency limitations have previously been noted as a significant barrier…
Naira strengthens trades at 793.70/dollar
The naira strengthened against the US dollar by closing at N793.70/$ on the Investor & Exporter FX window on Wednesday. Reports revealed…
Strong dollar reduces economic output in Nigeria, others – IMF
The International Monetary Fund has declared that a 10% increase in the dollar, connected to dynamics in the global financial markets, reduced…
Exchange rate drops N803 per dollar at I&E window
On Friday, July 15, 2023, the exchange rate between the dollar and the naira decreased to N803/$1 in the investor and exporter…
CBN orders banks to pay diaspora remittances in naira
The Central Bank of Nigeria has issued a directive to International Money Transfer Operators to pay dollars received through Diaspora remittances to…