Currencies
Nigeria's daily parallel market exchange rate tracker
Official exchange rate closes at N1609.51/$1 against dollar after CBN’s policy rate hike
The official exchange rate between the naira and the US dollar on Wednesday, February 28th, 2024, appreciated slightly by 0.4%...
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NAFEX rate closes at N1615.94/$1 as CBN sells dollars at N1300/$1 to BDCs
The official exchange rate between the naira and dollar fell to N1615.94/$1 on Tuesday, February 27th, 2024, just as dollar...
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CBN: Do not throw the baby with the bathwater on crypto
Last week, it was reported that the government instructed the NCC to block some crypto website platforms.
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Nigeria’s FX reserve rose to $34 billion – Cardoso
Nigeria's forex reserves have risen to $34 billion according to the governor of Nigeria's central bank, Olayemi Cardoso.
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CBN raises MPR to 22.75% up 400 basis points
The Central Bank of Nigeria has raised the monetary policy rate (MPR) by 400 basis points to a record 22.75%.
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Basic steps to hedge your local business against naira
The NGX's most recent earnings results reveal that PZ Cussons and Nigerian Breweries, among other blue-chip brands, FX exposures cost...
Read moreDetailsCurrency volatility: Official exchange rate appreciates by 5.22% as intra-day high records N1778/$1
The Naira experienced a notable appreciation against the US dollar on February 26, 2024 as official exchange rate strengthened by...
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Naira appreciates by 7.62% to N2100 against Great British Pound at the black market
The naira experienced a significant uptick on Monday, reaching a peak of N2100 per Great British Pound (GBP) in the...
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Naira stays above N1600 bandwidth at unofficial market as MPC meeting kicks off
The naira, week on week, posted some recovery against the haven currency at the unofficial market as CBN set in...
Read moreDetailsOfficial exchange rate closes week at N1,665.50/$1 amidst demand pressure and forex decline
The Naira experienced a decline against the US Dollar in the official market, concluding the week at N1,665.50/$1, amid sustained...
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