The naira was relatively stable against the British pound as the Bank of England left the UK's interest rates unchanged.
The naira remains in a consolidation phase against the British pound in the parallel market at N2,200/£ despite...
The Nigerian naira made a significant comeback in February 2025, appreciating against the US dollar, British pound, and...
Naira fell below N2,000 against the British pound as UK economic data exceeded expectations, impacting currency markets significantly.
The global currency market got the much-needed reassurance after years of market volatility under the Conservatives when Keir Starmer's centre-left Labour Party gained a substantial majority in the UK general election
The naira traded at the lower end of its range against the British pound sterling, edging lower ahead of a Bank of England interest rate decision.
The Naira reversed course yesterday, falling at the official window after rising for four days in a row despite the weakening of the US dollar.
The dollar held to a 10-month high against a basket of major currencies (Euro, British pound, Japanese Yen, Swedish Krona, Swiss Franc, Canadian dollar) on Thursday, while the naira held to an all-time low on the black market as investors weighed upbeat economic data from the United States and new comments from Federal Reserve officials.
The Naira/British Pound exchange rate hovered above N1,000/£ for about a week due to strong parallel market demand.
The currencies are Cayman Island’s dollar, British pound, Jordanian dinar, Omani rial, Bahraini dinar and Kuwaiti dinar
The rapid depreciation of Nigeria’s local currency will likely cause inflation
British pound notes featuring King Charles III's face are projected to reach circulation by the middle of 2024
