Tag
NAIRA
The naira posted mild gains in Nigeria's foreign exchange market while the U.S. dollar index dipped to its monthly lows.
The naira maintained the N1660-7 range against the haven currency in the unofficial market despite high volatility in the dollar index following President Trump's swearing-in.
The naira dipped against the safe-haven currency at the official market amid rising oil prices in global markets.
A recent report by Bayo Adedipe and Associates suggests the Naira will settle at N1,574/$1 in 2025. For context, the exchange rate closed in 2024 at N1,553/$1, marking only a slight shift.
The year 2025 is shaping up to be a year of hope or hubris for the Naira. Optimists...
The Nigerian currency remained relatively stable during the week's first trading session despite persistent pressure from the dollar's strength and stronger-than-expected U.S. economic data.
The naira experienced sustained pressure across foreign exchange markets this week, closing at N1,544.50/$1 on the official market and trading as high as N1,647/$1 in the parallel market.
The naira was muted in the last trading session of the week, while the greenback reached a two-year high as currency traders braced for a strong nonfarm payroll reading.
The naira settled marginally lower in the official market on Tuesday amid high demand for the safe-haven currency in global financial markets.
The Nigerian currency gained value against the haven currency in the first trading session of the week at both the official and parallel foreign exchange markets, ahead of the Christmas holiday.
The US Dollar index hit a fresh high, closing above 107.74 points as of the market ending on the 18th of December 2024, attaining its strongest level in two years.
This article explores the current state of the Nigeria currency; which is on a decline and the systems in place that have the tendency of stabilizing the Naira's recovery.