Tag
NAIRA
The Naira continued its downward trend this week and currently trades at N1,555/$1 on the parallel market on Wednesday, according to Nairametrics market survey in Lagos.
The Nigerian currency maintained its bullish momentum, reaching a four-month high against the US dollar and closing at 1518/$ on the Nigerian Foreign Exchange Market, the country's official exchange market.
The exchange rate closed the week with a mixed performance, as the naira recorded a slight depreciation in the official market but strengthened on the parallel (black) market.
The Nigerian currency is less than N30/$ away from breaking the key resistance level of N1500/$ in Nigeria's official market.
The naira appreciated to N1,565 per dollar on Thursday at the parallel market, up from N1,580 per dollar on Wednesday, according to a Nairametrics market survey in Lagos.
The naira remains in a consolidation phase against the British pound in the parallel market at N2,200/£ despite...
The Nigerian currency showed some strength in the Nigerian foreign exchange market, while the haven currency dipped to its lowest level since February 2022 in the global currency market.
In Episode 25 of Drinks & Mics, banking OG Chika Mbonu joins Ugodre, Tunji, and Arnold for a...
Recent price movements indicate that the Nigerian currency has remained in a consolidation phase in the unofficial market, fluctuating between N2,150 and N2,250/£/£ this month due to increased buying pressure on the British pound in Nigeria's commercial capital.
The Nigerian currency traded below the key resistance (N1600/$) against the greenback at the unofficial market.
The Organization of the Petroleum Exporting Countries and its allies (OPEC+), the world’s largest group of oil producers, has announced a 411,000 barrels per day production increase for July 2025, reinforcing its strategy to manage supply dynamics and safeguard market share.
The Naira remained stable in the informal market during the mid-trading session, trading at approximately N1,615–N1,618 per U.S. dollar, while simultaneously gaining value against other currencies.