Tag
NAIRA
My current intervention on the abysmal performance of our dear Naira, drew strength from the above, Late Sir Henry Boyo, Nigerian foremost Economist and Monetarist quote.
The Naira strengthened against the dollar in the official market, to close the week at N1,469.97/$1 as the ongoing demand pressure continued to erode the value of Nigeria's currency.
International transfers through international money transfers operators (IMTOs) will be paid out in naira in line with recent guidelines from the Central Bank of Nigeria (CBN).
Forex turnover dropped by 56.17% to $203 million as the Nigerian naira gained against the dollar marginally on Wednesday, February 7th, 2024 at the official market.
The dollar remained under pressure on Wednesday after retreating from a nearly three-month high against major currencies, yet the naira failed to take advantage.
The intra-day high between the naira and dollar sold for N1,519/$1 on Tuesday as forex turnover dropped by 20.26% to $465.29 as the Nigerian naira dropped against the dollar marginally on Tuesday, February 6th, 2024, in the official market.
The Naira gained against the dollar on Monday, 5th February 2024 at the both official market and the black market.
The naira traded near its all-time low despite improved liquidity.
The Central Bank of Nigeria (CBN) has restricted the operations of international money transfer operators (IMTOs) to only inbound transfers, stopping outbound transfers.
Naira gained against the dollar on Friday, 3rd February 2024 at the official market but declined at the black market.
Naira has recorded a marginal drop at the official market to N1,461.90 per dollar at the first trading day in the month of February 2024.
Naira has fallen to a record low of N1,515 per dollar following strong demand on the parallel market, also known as the black market.