Bank of New York Mellon Corp. (BNY Mellon), alongside Standard Bank Group Ltd., has launched global depositary notes backed by Nigerian sovereign debt denominated in naira.  

The naira maintained its bullish momentum at the unofficial market as it cracked below the N1600/$ resistance line, while the greenback fell in the global foreign exchange market.

The Nigerian currency fell to the N2135-N2150 bandwidth against a resurging British pound Sterling, which rose to a new high against the greenback. 

The Naira has ended the week with mixed performances, ending the week strong in the parallel market and depreciating in the official market on Friday.  

The Nigerian naira fluctuated well below N1600/$ on Thursday in the unofficial market, amid higher oil prices and investor concerns about tightening supplies.

The Naira has continued to extend its week-long appreciation stretch across official and parallel foreign exchange markets following the Sallah holidays. 

The Nigerian currency traded below the key resistance (N1600/$) against the greenback at the unofficial market.

The naira appreciated to N1605/$1 in the parallel market on Thursday, ahead of Sallah, from N1610/$1 the currency traded at on Wednesday. 

The Central Bank of Nigeria (CBN) recapitalization deadline for Bureau De Change (BDC) operators officially expired today, prompting renewed appeals from industry stakeholders for an extension to safeguard three million jobs and ensure compliance with new financial requirements. 

The naira appreciated to N1,610 per US dollar in the parallel market on Monday, marking a notable gain from Friday’s closing rate of N1,630/$1, according to Nairametrics sources in Lagos. 

The Ghanaian cedi has surged nearly 50 percent against the US dollar in 2025, outperforming all other global currencies.

In May 2025, the naira appreciated against the US dollar in the official market, closing at N1,585.50/$1 on Friday, 30 May, up from N1,606.00/$1 on 2 May. 

The Naira suffered a significant loss in the parallel market, closing at N1,630/$1 on Friday, May 30, 2025, after several days of relative stability at N1,620/$1, according to data from Nairametrics Research. 

Gold had already been losing value throughout the week following Trump’s decision to increase tariffs on Europe, which fueled greater risk appetite and reduced demand for safe-haven assets.

The African Development Bank (AfDB) has projected that the Nigerian naira will depreciate by at least 6% between 2025 and 2026, citing growing global financial market volatility as a key factor.  

The Naira remained stable in the informal market during the mid-trading session, trading at approximately N1,615–N1,618 per U.S. dollar, while simultaneously gaining value against other currencies.

The naira began the week on a weaker footing, depreciating to N1,583/$1 on Monday at the official market.  

The naira ended the week on a strong note, appreciating to N1,579/$1 on Friday, May 23, 2025, at the official foreign exchange market.

The naira weakened to N1,586/$1 in the official market on Thursday, marking the first depreciation since the Central Bank of Nigeria’s (CBN) 300th Monetary Policy Committee (MPC) meeting held earlier in the week.

The naira appreciated to N1,583/$1 at the official foreign exchange market on Wednesday, strengthening slightly from N1,588.5/$1 recorded on Tuesday, according to data from the Central Bank of Nigeria (CBN). 

The naira appreciated to N1,625/$1 in the parallel market on Tuesday, up slightly from N1,627/$1 recorded on Monday, according to data sourced by Nairametrics from currency traders in Lagos. 

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has announced that volatility in the foreign exchange (FX) market has declined significantly, falling below 0.5%, as Nigeria’s monetary and fiscal reforms begin to stabilise the macroeconomic environment. 

The naira appreciated marginally to N1,597/$1 on Monday at the official foreign exchange market, according to data published by the Central Bank of Nigeria (CBN). 

The naira ended the week on a stronger note, appreciating slightly against the U.S. dollar to close at N1,599.01/$1 in the official foreign exchange market on Friday, according to data from the Central Bank of Nigeria (CBN).  

There has been a lot of anxiety in the sector recently as the fate of most of the licensed Bureau De Change (BDC) operators hangs in the air, unless the June 3, 2025, recapitalization deadline is further extended.

Nigeria’s external reserves have recorded a sustained rebound for the first time in 2025, rising by $364 million between April 30 and May 14, 2025. 

The fundamentals of the Nigerian currency have improved amid lower headline inflation readings and ongoing reforms by the Central Bank of Nigeria (CBN) aimed at boosting foreign exchange (FX) remittances.

The Nigerian currency oscillated between the N1620-25/$ support line in the unofficial market amid the resurgence of the dollar in the global financial market.

Nigeria’s currency, the naira, appreciated against the US dollar at the official foreign exchange market on Monday, closing at N1,597.7/$1, according to data published on the Central Bank of Nigeria (CBN) website. 

The naira oscillated near its 2025 lows amid renewed appetite for the greenback, while the U.S. dollar index posted upside this week Unofficial market data showed the Nigerian currency fluctuated at the N1625/30/$ band on Friday. It closed at N1608/$1 on the official market compared to N1612/$1 a day earlier signaling a major bearish period for the exchange rate. The...