Currencies
Nigeria's daily parallel market exchange rate tracker
Naira speculators’ gains hit record high as spread rise by 2270 basis points
As of Monday’s close of business, there was a 22.7% gap between the Nigerian currency's unofficial and official rates. A...
Read moreDetails
Naira gains further at official market despite decline in dollar supply
Monday, 6th September 2021: The exchange rate between the naira and the US dollar closed at N411.13/$1 indicating a further...
Read moreDetails
Diaspora Remittances into Nigeria fall by 24% in Q1 2021
Nigeria attracted $4.2 billion in foreign remittances in the first quarter of 2021 as the country continues to grapple with...
Read moreDetails
CBN interventions emanate from critical issues within Nigeria’s economic space – Nwanisobi
The Central Bank of Nigeria (CBN) has stated that Nigeria’s appetite for foreign goods is destroying the naira. Importing fewer...
Read moreDetails
Naira gains at official forex market as demand pressure dampens rate at black market
Friday, 3rd September 2021: The exchange rate between the naira and the US dollar closed at N411.5/$1 at the official...
Read moreDetails
Rising global inflation rate, growth in US Economy could trigger further depreciation of the naira
Russia’s Central Bank recently laid out a recipe for what could trigger the next financial crisis for emerging countries like...
Read moreDetails
Does Nigeria really need CBN’s e-Naira?
The Central Bank of Nigeria (CBN) has stated that it plans to launch the pilot scheme of its Central Bank...
Read moreDetails
Naira hits a new record of N530/$ at black market as demand pressure worsens
Thursday, 2nd September 2021: The exchange rate between the naira and the US dollar closed at N411.67/$1 at the Investors and Exporters window,...
Read moreDetailsNaira falls to new record low at parallel market despite increase in forex liquidity
Wednesday, 1st September 2021: The exchange rate between the naira and the US dollar closed at N411.50/$1 at the Investors and...
Read moreDetails
What you should know about Bitt Inc, CBN’s digital currency partner
On Monday, August 30th the Central Bank of Nigeria announced it had selected Bitt as the technical partner for its...
Read moreDetails
