Currencies
Nigeria's daily parallel market exchange rate tracker
Forex turnover drops to lowest since January as naira settles above N1,600/$1
The forex turnover on the FMDQ, where the exchange rate trades officially, closed at a turnover of just $61.9 million,...
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Forex crisis: Nigeria’s ID4D project gains N8.6 billion from Naira devaluation in 2023
The devaluation of the Naira resulted in a forex gain of N8.6 billion for the Nigeria Identification for Development (ID4D)...
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Food gulps 17% of Nigeria’s dollar spending on imports in Q1 2024
The import of food products gulped about $689.88 million in the first quarter of 2024, which is about 17% of...
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Exchange rate for customs duties collection rises to N1,618/$
The exchange rate for the Nigeria Customs Service (NCS) duties collection has risen to N1618.73/$ according to the latest figure...
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Central Bank to reintroduce auctions (rDas) to address forex shortage
The Central Bank of Nigeria (CBN) has unveiled plans to implement a Retail Dutch Auction System (DAS) to address the...
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Nigeria’s exchange rate depreciates by 6.43% in July despite CBN’s FX sales
Nigeria’s exchange rate closed July 2024 at N1608.73/$1, marking a 6.43% depreciation on the official market for the month.
Read moreDetailsNigeria’s exchange rate records best gain in two weeks, closes at N1,570/$1 on Thursday
The naira surged to N1,570/$1 on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window on Thursday, marking an increase of...
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Nigeria’s currency in circulation exceeds N4 trillion in June 2024, first time in history
The latest data from the Central Bank of Nigeria (CBN) shows that the currency in circulation (CIC) reached a year-high...
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Only 10% of our 2023 FX gains are realized – FCMB Group CEO
The Group CEO of FCMB Group, Ladi Balogun has stated that only about 10% of the bank’s foreign exchange gains...
Read moreDetailsNaira on a 5th losing streak against the U.S. Dollar; Fed interest rate decision takes spotlight
The Naira posted its worst dip since April despite the weakening U.S. dollar index.
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