Exchange rate ends week on strong note, closes at N1,589/$1 in official market
The naira ended the trading week on a strong footing, appreciating to N1,589/$1 at the official Nigerian Foreign Exchange Market ...
Tag: Foreign exchange market
CBN approves release of FX Code to promote ethical conduct in Nigeria’s foreign exchange market
The Central Bank of Nigeria (CBN) has officially approved the release of the Nigerian Foreign Exchange (FX) Code, a move ...
CBN permits BDCs to buy up to $25,000 FX weekly from NFEM
The CBN has granted BDC operators temporary permission to purchase up to $25,000 weekly in foreign exchange (FX) from the ...
Naira holds N1,550/$ support line at Nigeria’s foreign exchange market
The local currency maintained its ground during the fourth trading session of the week, despite the US dollar index oscillating ...
Nigeria’s money supply surges to N108.9 trillion, up 68% in one year
Nigeria’s money supply (M3) has grown by 62.8% year-on-year (YoY) in September 2024, despite the Monetary Policy Committee’s (MPC) tightening ...
Naira trades within narrow range as FX turnover surges by 138.67%
The naira exhibited signs of moderate stability as foreign exchange (FX) turnover surged by 138.67% on the Nigerian Autonomous Foreign ...
CBN permits IOCs to sell 50% of repatriated export proceeds to authorized FX dealers
The Central Bank of Nigeria (CBN) has announced that International Oil Companies (IOCs) can sell 50% balance of their repatriated ...
Naira ends turbulent May at N1,485.99/$1 on official market
After two days of substantial depreciation in a week characterized by significant volatility in the foreign exchange market, the naira ...
Naira appreciates to N1,339.33/$1 on official market, best in 2 months
The exchange rate between the Naira and the Dollar at the official window saw a significant appreciation of 10.71% on ...
U.S dollar set for first weekly fall in 2024 while naira shows momentum
The U.S. dollar index was on track for its first weekly fall in 2024 while the naira appreciated at the ...
