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Naira Exchange Rate

Nigeria’s daily parallel market exchange rate tracker

Forex, NIGERIA: Daily Parallel Market, Exchange Rate

NIGERIA: Daily Parallel Market Exchange Rate (June 28th 2019)

Parallel market exchange rate between the Naira and three of the world's major currencies.
Central Bank Continues intervention in Forex market to stabilize Naira

CBN’s intervention in FX market hit $39 billion in 2018

The Central Bank of Nigeria (CBN)stabilized the Naira in 2018 by injecting $39.9 billion into the foreign exchange market (Forex). This is according to the...
Nigerian National Petroleum Corporation

NNPC set to meet December 2019 deadline on petroleum product importation

NNPC was created by the merger of NNOC and the Ministry of Petroleum Resources in accordance to decree 33 of 1977.

Nigeria’s External Reserves drop below $47billion below for first time in 4 months

Nigeria's external reserves suffered a major drop during the week as CBN data reveals the country's external reserve position was $46.8 billion as at...
CBN Gov Godiwn Emefiele

These factors could lead the exchange rate to depreciate to N403/$1

Nairametrics readers and followers have sent us messages asking what we think will happen to the Naira in 2018. It's an interesting question considering...
CBN Gov Godiwn Emefiele

CBN begins implementation of electronic certificate of capital importation today

The apex bank on Friday issued a circular notifying dealers of its decision to begin the deployment of an electronic Certificate of Capital Importation...
Nigerians Celebrating

CBN’s likely next steps as external reserves bounce back to pre-Buhari levels

Data from the Central Bank of Nigeria as at August 28, 2017 reveals Nigeria's external reserves stood tentatively at $31.8 billion, the highest since...
CBN Gov Godiwn Emefiele

Jitters as the CBN fails to update external reserves figures in 10 days

All eyes are on the Central Bank of Nigeria (CBN) for the release of the latest foreign exchange reserve figures. The apex bank is...

CBN pumps fresh $364million into inter-bank Forex market

The Acting Director of Corporate Communications, Central Bank of Nigeria (CBN), Mr Isaac Okorafor said on Tuesday that CBN has injected $364 million in...
CBN Governor, Godwin Emefiele

This is the N7 trillion CBN debt no one seems to be talking about

The Central Bank of Nigeria has been attracting much kudos of late especially for its handling of the exchange rate crisis. Since it introduced a...

BOOM: External reserves hit two year high (highest since July 2015)

Nigeria’s external reserves surged to $31.2 billion, the highest since July 2015, according to external reserves data from the CBN as at August 8,...

Finally, Nigeria is on the verge of a unified exchange rate

The FMDQ asked banks to start quoting rates from the Investors’ & Exporters’ FX Window instead of the CBN official rate. The FMDQ OTC is...

Nigerian Banks raise dollar limit on Naira debit cards

Nigerians, who execute frequent dollar transactions, now have cause to smile as commercial banks in the country have raised dollar limits on Naira cards. Here is...
Godwin Emefiele, CBN, Textile

7 ‘unexpected’ lessons learnt from the CBN FX Windows

Back in February 2017, the Central Bank of Nigeria opened a window that allowed retail buyers access forex for invisible transactions, at N366. To...

Another anomally as bank rates trade higher than black market

The Central Bank of Nigeria (CBN) may have to tinker with its foreign exchange policies as official bank dollar rates are beginning to spike...
Source: Quantitative Financial Analytics

Currency futures Trading volume wanes as rates converge

The volume of trade in the Nigerian currency futures market has dropped dramatically since the CBN came up with the investor FX rate window...
CBN Governor, Godwin Emefiele

Fitch gives Emfiele’s signature FX Policy pass mark

After so much criticism for its forex policies from international analysts, the Central Bank of Nigeria has finally received an endorsement for one of...
Invest in treasury bills

CBN has sold over $4 billion defending the Naira since February 2017

The Central Bank of Nigeria (CBN) seems determined to continue with its intervention in the country’s foreign exchange markets, as it has made arrangements...

Data: Amount of dollars inflows and outflows into Nigeria

The chart below highlights the amount of foreign exchange inflow and outflows in Nigeria from the year 2013.

Forex forwards sold by the CBN since July 2016

Nairametrics| The Central Bank of Nigeria has so far sold a total of $5,747.76 in Forex forwards since June 2016, when it introduced the...

Is the new investor window already in chaos?

It's not even up to a month old!

Update: CBN did not reverse ban on 41 items (mix-up explained)

Nairametrics| The Central Bank of Nigeria has issued a press release clarifying interpretations  that it had reversed the ban on 41 items. Nairametrics had...

Why recent oil price slide could affect outlook for exchange rate

Oil prices have extended losses this week with the Brent crude sliding by 2.4% to about $47 this week. This is just above the crude oil budget benchmark of $42.5.
Emefiele’s reappointment

What Emefiele told Buhari at the meeting on Thursday 

Nigeria's CBN Governor, Godwin Emefiele has been upbeat lately as he basks in the euphoria of a forex policy that seems to be working....