Tag
DOLLAR
Information obtained from Abokifx shows that the local currency depreciated to N437 to a dollar on Wednesday, May 6, 2020, as against the N430 to a dollar, it sold the previous day.
The naira was trading at 387.35 to the dollar yesterday at the currency spot market mainly used by foreign investors and exporters
CBN intervenes in the foreign exchange market, the local currency, naira, on Monday May 4, 2020, appreciated against the dollar
As Nairametrics previously reported, the apex bank informed Nigerians that it will resume the provision of Forex to all commercial banks in Nigeria for onward sales to SMEs and Nigerian students in foreign schools.
The naira is likely to keep falling due to surging demand for the U.S dollar as Nigeria’s Central Bank begins Fx sales to Nigerian banks
Currency traders are expecting the naira to fall slightly today, due to the maturing $1.52 billion April 29 contract.
Nigeria's currency continued to depreciate at the forward market, as worries strengthened that the CBN might have to devalue the naira again.
The volatility of Nigeria’s foreign exchange market seems to be heading towards the 2015 crisis era as the naira has further depreciated to N450 to a dollar in the parallel market
COVID-19 pandemic and the crash in oil prices have all but extinguished supply of dollars from the IFEX market (official market for trading forex).
Interestingly, the dollar fell significantly against most major currencies on Tuesday, amid concerns that the currency had surged too quickly when safe-haven demand is dropping.
Naira depreciates to N410 per dollar as local currency weakens
Association of Bureau De Change Operators of Nigeria has given assurances to the public of continued sale of dollars at the official price