Tag
NAIRA
The naira appreciated marginally to N1,597/$1 on Monday at the official foreign exchange market, according to data published by the Central Bank of Nigeria (CBN).
The fundamentals of the Nigerian currency have improved amid lower headline inflation readings and ongoing reforms by the Central Bank of Nigeria (CBN) aimed at boosting foreign exchange (FX) remittances.
The Naira depreciated to N1,612/$1 at the official Nigerian Foreign Exchange Market (NFEM) on Wednesday, May 7, 2025, down from N1,609/$1 recorded on Tuesday, May 6, 2025, according to data from the Central Bank of Nigeria (CBN).
The Nigerian naira depreciated further against the US dollar at the official foreign exchange market, closing at N1,609/$1 on Tuesday, May 6, 2025.
The naira remained stable at N1610–N1615 on the unofficial market as oil prices recovered above $61 per barrel, while the dollar index stayed stable in the global currency market.
Nigeria is staring down the barrel of twin macroeconomic shocks as Brent crude prices plunge below $60 per barrel.
The Nigerian naira maintained stability at the official exchange window on Wednesday, closing at N1,602/$1, the same rate recorded on Tuesday.
The Nigerian naira fluctuated around N2,177 per British pound in the unofficial market today.
The naira ended the trading week on a strong footing, appreciating to N1,589/$1 at the official Nigerian Foreign Exchange Market (NFEM) on Friday, April 25, 2025.
The Nigerian naira continued its depreciation against the US dollar at the official foreign exchange market on Thursday, closing at N1,605/$1.
The naira depreciated to N1,606.00/$1 on Tuesday, April 22, 2025, at the official foreign exchange market.
The naira maintained its position within the N1600–N1605/$ band against the global reserve currency, even as the dollar index climbed from a three-year low.