Naira crashes to a 3 year low at the black market as liquidity crisis worsens

Naira’s true worth,Naira gains on the dollar for the first time since March, Naira forwards hit record high as it crashes to N420/dollar in the parallel market, Naira hits N500 to $1 at the forward market, Naira hits N509 to the dollar at forwards market, demand for the U.S dollar climbs up, Naira hits $387.35 to $1 at currency spot market , Naira sells at N456, Nigeria’s Foreign Reserves drop by over $3 billion in Q1 2020, Investors and Exporters (I&E) window, Naira gains against the dollar, CBN close in on currency speculators

The volatility and uncertainty of the forex market seem to persist due to liquidity shortages across markets. 

Dark Clouds loom for investors as stocks fall 8% in first half of 2020

by Nairametrics

July 2, 2020

Nigerian stocks are down 8.8% for the year worse than 5.86% in May.

Naira falls against the dollar at the forex market, liquidity down by 88%

by Chike Olisah

July 1, 2020

The volatility and uncertainty of the forex market seem to persist due to liquidity shortages across markets. 

COVID-19 could save naira from depreciating further, Many odds against the naira, Naira forwards and parallel market crash puts pressure on official exchange rate, Naira appreciates to N386.94 to $1 at investor and exporters window. , Naira set for recovery as ABCON issues guideline to members for forex sales resumption, Naira falls against the Euro, British pound sterling but gains against the U.S dollar, Naira falls at black market, dollar liquidity remains relatively low , Forex, Naira drops further at the black market despite appreciating at I&E window

Naira drops further at the black market despite appreciating at I&E window

by Chike Olisah

June 28, 2020

The rise in demand and contrasting drop in supply has called for another round of devaluation...

Business leaders talk on CBN unification of the Naira

by Olumide Adesina

June 28, 2020

Business leaders have given their opinions on CBN's plan to unify the exchange rate of the Naira.

The naira is falling, Naira to depreciate slightly over $1.52 billion maturing contracts expiring today, Naira drop slightly at black market, breaching its support levels, Naira falls against the dollar across all forex markets as liquidity drop by 84% , How to increase your income from one to many

Naira falls against the dollar across all forex markets as liquidity drop by 84%

by Chike Olisah

June 26, 2020

Forex turnover dropped from $90.88 million on Wednesday, June 24, 2020, to $14.68 million on Thursday, June 25, 2020, representing a decline of 83.8%

Naira unification may lead to losses for black market speculators

by Olumide Adesina

June 25, 2020

Naira unification around NAFEX could burn the fingers of speculators.

Naira recovers sharply at black market but falls at I&E forex window

by Chike Olisah

June 25, 2020

Forex turnover at the Investor and Exporters (I&E) window on Wednesday, June 24, 2020, stayed relatively flat when compared to the day before. This ...

Banks' stakeholders express 4 main concerns bothering the sector right now, CBN, MARKET UPDATE: CBN’s historic agriculture lending; Is it yielding the desired results?

CBN Governor confirms exchange rate unification plans

by Lawretta Egba

June 23, 2020

He revealed the unification will also be around the NAFEX rate.

Is the naira depreciating slowly?

by Uche Ndimele

October 24, 2018

The Nigerian Naira has been relatively stable in relation to the US Dollar since the CBN began to defend the ...

Tag: NAFEX