Daily FX turnover jumps to record $857 million as Naira gains momentum
The daily forex turnover soared to $857 million on Thursday, March 28th, marking the highest level since the Central Bank implemented its new forex policies
Read moreNGN |
USD |
---|---|
Buy / Sell | |
21/12/2021 | 570/575 |
20/12/2021 | 565/ 573 |
17/12/2021 | 565/ 573 |
16/12/2021 | 565/572 |
Day | High (N/$) |
Low (N/$) |
Opening (N/$) |
Closing (N/$) |
% change in closing |
---|---|---|---|---|---|
21/12/2021 | 444 | 404 | 414.11 | 415.1 | -0.07% |
20/12/2021
|
444 | 405 |
413.84
|
414.08 |
+0.07%
|
17/12/2021 | 444 | 405 | 413.83 | 415.07 | 0.00% |
16/12/2021 | 444 | 405 | 413.13 | 415.05 | -0.19% |
15/12/2021 | 444 | 405 | 413.87 | Â 414.25 | +0.13% |
Date | USD Million | Change (%) |
---|---|---|
21/12/2021 | 323.56 | -10.2 |
20/12/2021 | 360.18 | +138.5% |
17/12/2021 | 151.03 | -54.4% |
16/12/2021 | 331.11 | +86.4% |
15/12/2021 | 177.6 | -53.0% |
Disclaimer: Nairametrics does not set or determine forex rates. The official NAFEX rates are obtained from the website of FMDQOTC, Parallel market rates are obtained from various sources including online media outlets. The rate you buy and sell forex may be different from what is captured in this page
The daily forex turnover soared to $857 million on Thursday, March 28th, marking the highest level since the Central Bank implemented its new forex policies
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Read moreDangote Group has spent a staggering N1.398 trillion as cost of sales in 2023 across its three quoted companies on the Nigerian Exchange Limited, representing a significant increase of 27.09% from the previous year.Â
Read moreThe Naira has been battered beyond a fraction of what gold did to silver under bimetallism in France.
Read moreThe Central Bank of Nigeria has issued a circular to BDCs informing them that they sold $10,000 t0 each BDC at a rate of N1,251/$1.
Read moreThe exchange rate charged by the Nigerian Customs Service (NCS) for cargo clearance and import duties collection has dropped significantly from N1572.5/$ to N1448.38 to the USD.
Read moreThe naira value of the federal government’s external debt increased by N17.37 trillion from N16.703 trillion as of December 2022 to N34.073 trillion in December 2023.
Read moreThe Association of Bureau De Change Operators of Nigeria (ABCON) has stated that the oversubscription of recent FGN securities is having a positive effect on the naira exchange rate to the USD.
Read morePresident Bola Tinubu has assured that the current momentum that Nigerians are seeing with respect to strengthening of the naira against other major currencies including the dollar will be sustained and not going to slow down.
Read moreThe official exchange rate between the Naira and the Dollar strengthened to N1,431/$ on Friday, March 22, 2024, posting the best rate in over six weeks.
Read moreFor the second week in a row, the dollar index has increased, rising 0.8 percent to 104.095 index points.
Read moreThe Central Bank of Nigeria (CBN) has announced that all valid foreign exchange backlogs have now been settled
Read moreThe exchange rate of the naira to the USD has increase to N1400/$ on the parallel market marking a significant strengthening on the naira in the past few weeks.
Read moreThe Central Bank of Nigeria has reduced the exchange rate for cargo clearance at Customs area command to N1572.50 from N1593.41 just two days ago. This represents a drop of N20.91 in just a few days.
Read moreThe Nigerian Autonomous Foreign Exchange (NAFEM) saw a notable appreciation on Tuesday, with the closing rate standing at N1560.57 to $1.
Read moreA litmus test of the naira's stability will be in play when the Federal Reserve makes it interest rate decision on Wednesday which has currency traders take a position on the haven currency
Read moreThe official market observed a modest increase in the value of the Naira against the dollar, concluding at N1,597.24 to $1, marking a 0.34% enhancement from the prior closing figure of N1,602.75 to $1 from the preceding week's end. Â
Read moreThe devaluation of the Naira has exerted a substantial influence on the net asset value of pension fund assets in Nigeria over the past year.
Read moreThe exchange rate for cargo clearance has dropped to N1593.41/$ from N1612.28/$ recorded last week representing a drop of about N18.87.Â
Read moreThe Central Bank of Nigeria (CBN) has reiterated its position on how banks utilize their FX revaluation gains referencing a previous circular dated September 11, 2023. Â
Read moreThe official market witnessed a slight depreciation in the Naira-dollar exchange rate, closing at N1,615.94 to $1, a 0.78% decrease.
Read moreNigeria is pushing Binance, a cryptocurrency exchange for information on its top 100 users in the country, as well as all transaction history for the past six months.
Read moreThe British pound sterling is outperforming most of the world's currencies this year, including the naira, despite a hawkish CBN.
Read moreIn the official market, the naira exhibited a marginal strengthening against the US dollar, concluding at N1,617.96/$1.
Read moreThe Central Bank of Nigeria (CBN) faces a significant liquidity crisis in supporting the naira, as nearly $20 billion of its $33 billion in foreign reserves is tied up in various derivative deals.
Read moreNigeria recorded a total crude oil export revenue of N29 trillion in 2023, a 37% increase compared to N21.1 trillion recorded in the previous year.
Read moreDespite the substantial FX losses incurred by MTN Nigeria in FY 2023, approximately 83% of that amount remains unrealized. Â
Read moreThe Nigerian local currency is running out of time, and the U.S. dollar index is hovering around two-month lows as markets await significant additional indicators of when the Federal Reserve will lower interest rates and consult inflation data.
Read moreIn a recent report, Goldman Sachs analysts suggest the Naira "looks cheap" on a REER basis in a historical context.
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