Tag
NAIRA
The Nigerian naira showed stability in the official market as demand for the greenback moderated during the second trading session of the week.
The Central Bank of Nigeria (CBN) has reaffirmed that all denominations of Naira banknotes, including old and new designs, will remain valid as legal tender indefinitely.
On this special edition of MoneyBrief with Ugodre, we had Joanna put the boss on the hot seat!...
The Central Bank of Nigeria’s unification of the official and parallel foreign exchange market rates is proving unsuccessful, as shown by the market spectrum.
The naira depreciated further at the parallel market to close at N1685/$1 at the end of business on Tuesday, December 10, 2024 with the exchange rate falling for the second time since the Central Bank of Nigeria (CBN) migrated to the Enhanced Foreign Exchange Market System (EFEMS) platform.
The naira crashed to N1640/$1 at the parallel market at the close of business on Monday, December 9, 2024, ending four consecutive days of exchange rate appreciation since the Central Bank of Nigeria (CBN) migrated to the Enhanced Foreign Exchange Market System (EFEMS) platform.
The Nigerian currency posted strong gains against the European currency at the parallel market on the weekly spectrum amid ongoing reforms in Nigeria’s foreign exchange market and political uncertainty in Europe.
Currency traders under the aegis of the Association of Bureau De Change Operators of Nigeria (ABCON) have warned that forex speculators will resist the rapid appreciation of the naira to cover their losses.
The naira broke below the N2,000 barrier for the first time in five months amid ongoing reforms in Nigeria's currency market.
The Nigerian currency was largely muted in the unofficial market on Wednesday, oscillating around N1,750/$ despite improved fundamentals in the country’s foreign exchange market.
The Nigerian naira recorded marginal appreciation at both the official and parallel markets by the end of November, according to data from FMDQ and Bureau de Change (BDC) operators.
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, asserted that the value of the naira has shown remarkable stability since June 2024, despite challenges in the global and domestic economic landscapes.