Tag
US DOLLAR
The U.S. dollar fell in the first trading session of the week as currency traders pulled out of "Trump trades" that had benefited in recent weeks from speculation that former Republican President Donald Trump was more likely to defeat Democratic Vice President Kamala Harris in Tuesday's presidential election.
The Russian President, Vladimir Putin has urged members of the BRICS bloc (Brazil, Russia, India, China, and South Africa) to adopt cryptocurrencies and other alternative digital monies in their financial transactions to lessen the reliance on the US dollar.
The Nigerian naira appreciated against the US dollar, closing at N1,576.10 in the official Investor and Exporter (I&E)...
The exchange rate between the Nigerian naira and the US dollar depreciated to N1,562.66 at the official Investor and Exporter (I&E) window on Monday, September 23, 2024.
The exchange rate between the naira and the US dollar appreciated to N1,539.65 at the official Investor and Exporter (I&E) window on Wednesday, September 18, 2024, as the dollar weakened following a 50-basis point rate cut by the U.S. Federal Reserve.
The exchange rate between the naira and the US dollar depreciated to N1,656.49 at the official Investor and Exporter (I&E) window on Tuesday, September 17, 2024.
The exchange rate between the naira and the US dollar appreciated N1,558.75 at the official Investor and Exporter (I&E) window on Wednesday, September 11, 2024.
The Nigerian naira strengthened as the U.S. dollar index edged lower ahead of the U.S. CPI data and the televised U.S. presidential debate.
In the final trading session of August on Friday, Naira traded at N1598/$1, indicating a continued drowning considering the N1593 it trades for on Thursday
Spot FX market turnover was $6.72 billion (N10.01 trillion) in June 2024, representing a 41.17% ($4.70 billion) a Month-on-month (MoM) decrease from the turnover recorded in May 2024 ($11.42 billion)
The naira has weakened further against the US Dollar, falling to N1,500.79/$1 on the official market on June 25, 2024.
The Naira has lost its four-day winning streak, depreciating by 1.55% to close at 1485.66/$1 on the official market on Thursday, according to the latest data from the FMDQ.