Tag
NAFEM
The naira made a significant recovery in the parallel market, appreciating by N5 against the US dollar on Monday.
The naira showed mild strength against the haven currency in the last trading session of the week in the official foreign exchange market.
The Nigerian naira has traded for the third consecutive day against the dollar at the same exchange rate of N1,650/$ in the parallel segment of the forex market.
The naira has suffered further depreciation on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window, closing at N1,603.80/$1 on Thursday, July 25, 2024.
The naira hit a new low in July, closing at N1,563.80/$1 on Friday, July 12, 2024, as it recovered from the previous day’s slight appreciation.
The naira has suffered a significant depreciation on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window, falling to N1,561.98/$1 on Wednesday, July 10, 2024.
Naira falls as increased demand pressures the local currency, while the U.S. dollar index maintains its bullish trend.
The naira suffered a significant depreciation on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window, falling to N1,329.65/$1 on Wednesday, May 29, 2024.
The naira has experienced consecutive double-digit appreciation on the official market, and sources say that the Central Bank of Nigeria (CBN) has been selling more dollars on the official market in anticipation of a $1.3 billion non-deliverable forward (NDF) maturing today Wednesday, May 29, 2024.
The naira surged N1,1173.88/$1 on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window on Tuesday, marking an increase of 14.09% from the previous day's rate.
Nigeria’s foreign exchange market has seen the turnover on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window surge by an astonishing 231.99% on May 24, 2024
The Nigerian Naira displayed a marginal appreciation against the US dollar on the official market, despite a significant decline in foreign exchange (FX) turnover.