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NAIRA
The naira traded within a tight range on Thursday following the recently concluded Monetary Policy Committee (MPC) meeting.
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Naira appreciated slightly on the official market, despite a substantial 66% increase in foreign exchange (FX) supply and a new rate hike by the Central Bank of Nigeria (CBN).
The naira stayed around a key support line in the country's unofficial market as analysts expect Nigeria’s apex bank to increase interest rates later today.
Japan's $60 billion intervention failed to strengthen the Yen, while Nigeria's similar strategy hasn't stabilized the Naira either.
Nigerians are excessively focused on the exchange rate of the local currency, the Naira. It’s looked at as a barometer of the economy
The naira clawed back some of its losses against the dollar amid prospects for rate cuts in the world's largest economy improved, and U.S. core inflation and weaker-than-expected inflation readings in Nigeria.
Kucoin Halts Naira P2P Trading on Its Platform Citing Compliance and an upgrade of its services in the Nigerian crypto market.
The Naira continued its decline across the country's unofficial FX market, depreciating to a new low of 1,540 per dollar on the parallel market despite a falling U.S. dollar index.
Amidst severe liquidity shortages and erratic forex supply, a senior ABCON official explained why the naira has been depreciating in recent days.
The dollar consolidated against major peers on Monday as market participants while the naira oscillated near its March 20 lows as traders await a key inflation report to assess the prospects of U.S interest rate cuts this year
The International Monetary Fund (IMF) has expressed concerns over the Nigerian government's strategy to issue domestic dollar-denominated bonds, according to the recently published IMF staff country report for Nigeria.