Tag
FOREX
Currency speculators who profit from round-tripping and other currency manipulation practices are in trouble, as the Nigerian central...
At the parallel market, the naira depreciated against the US dollar at an exchange rate of N506/$1.
Naira appreciated against the US dollar on Monday, closing at N411.5 to a dollar, representing a 0.06% gain.
The local currency fell at the official market despite the dollar supply rising significantly by 128.2%.
The local currency was down at the official window as forex liquidity dropped by 43.2%.
Naira depreciated on Wednesday against the US dollar to close at N411.50 to a dollar compared to N410/$1 recorded on Tuesday.
The exchange rate depreciated further at the parallel market to close at N500/$1 on Monday, June 21, 2021.
The CBN has moved to increase forex allocation to BDCs and sustain the funding for about 5,000 members of the association.
Naira appreciated against the US dollar on Friday, 11th June 2021 to close at N410.80 to a dollar.
Naira depreciated against the US dollar on Thursday to close at N411.83 to a dollar at the official I&E window.
Nigeria needs supply, the foreign exchange market needs liquidity, Nigerians need dollars.
Naira depreciated against the US dollar at the I&E window on Monday, June 7, 2021, to close at N411.07/$1.