Tag
EXCHANGE RATE
Nigeria is pushing Binance, a cryptocurrency exchange for information on its top 100 users in the country, as well as all transaction history for the past six months.
Dangote Cement Plc, BUA Cement Plc, and Lafarge Africa Plc spent a whopping sum of N598.137 billion in fuel and power during the full year ended December 31, 2023.
The British pound sterling is outperforming most of the world's currencies this year, including the naira, despite a hawkish CBN.
In the official market, the naira exhibited a marginal strengthening against the US dollar, concluding at N1,617.96/$1.
The Central Bank of Nigeria (CBN) faces a significant liquidity crisis in supporting the naira, as nearly $20 billion of its $33 billion in foreign reserves is tied up in various derivative deals.
In a recent report, Goldman Sachs analysts suggest the Naira "looks cheap" on a REER basis in a historical context.
The official exchange rate of the naira against the dollar ended its three-day winning streak, falling by 4.26% to N1602.43 per US dollar on Tuesday, March 5, 2024, compared to N1534.19/$1, according to data published by FMDQ.
The parallel market exchange rate has experienced a substantial decline, reaching a low point of N2050 per Great...
The exchange rate between the naira and the dollar strengthened for the third consecutive day, closing at N1,534.9/$1 on the official market. This marks the strongest level the naira has reached in 7 days.
The Naira exhibited a positive trend against the US Dollar in the official market, concluding the week at N1,548.25/$1.
Businesses in Nigeria faced the highest increase in input cost in a decade due to the weakness in the exchange rate for February.
As of 8 am on Wednesday, the dollar traded for as high as N1,415/$1 from as low as N1606/$1 within 24 hours.