Currencies
Nigeria's daily parallel market exchange rate tracker
Naira closes January at N1,475/$1 NAFEM rate, strongest since June 2024
The Nigerian Naira closed January 2025 at N1,475/$1 at the Nigerian Autonomous Foreign Exchange Market (NAFEM), marking its strongest performance...
Read moreDetailsExchange rate appreciates to N1,610/$1 in parallel market
The Nigerian naira appreciated against the U.S. dollar in the parallel market on Friday, closing at N1,610/$1, compared to N1,630/$1...
Read moreDetailsNaira strengthens to N1,635/$1 in parallel market as FX market shows signs of stability
The Nigerian naira appreciated to N1,635 per dollar in the parallel market on Tuesday, strengthening from N1,650 per dollar recorded...
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BDCs explain why Naira will be strong in 2025
Bureau de Change (BDC) operators in Nigeria have expressed optimism about the Naira's prospects in 2025, forecasting a stronger currency...
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Forensic verification of FX backlogs almost complete, final settlements processed soon – Cardoso
The Central Bank Governor Olayemi Cardoso has announced that the forensic verification of the $7 billion FX backlogs is nearing...
Read moreDetailsNaira shows price stability in unofficial market, CBN introduces FX Code
The Nigerian currency at the unofficial market maintained its face value at the second trading session of the week.
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CBN waives 2025 licence renewal fee for existing BDC operators
The Central Bank of Nigeria (CBN) has approved the 2025 licence renewal fee waiver for the Bureau De Change (BDC)...
Read moreDetailsCBN asks FX market participants to submit compliance report before January 31
The Central Bank of Nigeria (CBN) has directed participants in the foreign exchange (FX) market to submit a compliance report...
Read moreDetailsNaira posts mild gains, U.S. dollar index dips to monthly lows
The naira posted mild gains in Nigeria's foreign exchange market while the U.S. dollar index dipped to its monthly lows.
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Nigeria’s FX reserves fall by $832.62 million in two weeks, biggest drop since April 2024
Nigeria’s foreign exchange reserves declined significantly in two weeks this January 2025, falling by $832.62 million between January 6 and...
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