Currencies
Nigeria's daily parallel market exchange rate tracker
 Exchange Rate: Unification effort by the CBN is already yielding dividend – CIBN
CIBN praised the efforts by President Tinubu towards stabilizing Nigeria’s fx rate adding as the effort of CBN is already...
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CBN brings back BDC, introduces new Operational Mechanism for Bureau De Change Operations in Nigeria
In a bid to enhance the efficiency of the Nigerian Foreign Exchange Market, the Central Bank of Nigeria (CBN) has...
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Speculators lost over $1 billion as Bitcoin drops to lowest level since June Â
Digital asset speculators have incurred losses totaling $1 billion as the digital asset market undergoes one of its most significant...
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Speculators moan their losses as the naira gains N95/$ in less than a week Â
In a striking reversal, the naira demonstrated newfound strength against the dollar within the peer-to-peer (P2P) market, opening at N855/$...
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Currency update: Naira advances to N870 on black market, official rate at N759.86 Â
The black market recorded another day’s improvement in the naira-dollar exchange rate on Thursday, 17th August 2023. Following the same...
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Imported food inflation surges to 19.94% as naira devaluation piles pressureÂ
The National Bureau of Statistics (NBS) released Nigeria's consumer price index (CPI) report for July 2023, revealing a startling surge...
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FX Speculators post heavy losses as the naira gains N55/$, exchanged below N890/$
Naira appreciated in the P2P market when it broke below the N900 price on Binance in the early hours of...
Read moreDetailsExchange rate unification and its impact on the consumer goods sector companies
Amidst exchange rate unification, major consumer goods companies, FMCGs, have reported significant net foreign exchange losses. Â
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Naira crash: BDC operators to CBN, you need us to have liquidity in forex market
Bureau De Change (BDC) operators under the aegis of the Association of Bureau De Change Operators of Nigeria (ABCON) have...
Read moreDetailsCBN warns new FX Policy ‘coming soon’ will lead to losses for speculators Â
The acting governor of the central bank, Fola Shonubi warned speculators of potential losses as they implement a new policy...
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