Tag: dollar

EFCC Launches Task Force to Combat Naira Mutilation and Dollarization

EFCC Raids Currency Speculators as Naira Falls to 1,520 per Dollar

May 15, 2024

In a significant crackdown, operatives of the Economic and Financial Crimes Commission (EFCC) conducted extensive raids on Bureau De Change ...

Naira crashes to N742/$ in the parallel market

Naira Hits Two-Month Low of N1,419.11 Against Dollar as Foreign Inflows Drops

by Stephen Akudike

April 30, 2024

The naira experienced a significant decline on Monday, reaching its lowest level against the dollar in two months, as foreign ...

Nigeria Plans New FX Rules, Targeting 750 Naira Exchange Rate

Naira Plunges to N1,450 Against Dollar, 8.28% Decrease During Trading Hours

by Stephen Akudike

April 26, 2024

The Nigerian naira experienced a sharp decline on Thursday afternoon, dropping to N1,450 per dollar in the parallel market. This ...

Global Currencies React to U.S. Dollar’s Rebound, Heightening Economic Uncertainty

Dollar Strengthens Against Euro, Yen, and Yuan: Factors Behind the Surge

by Rate Captain

April 23, 2024

The global financial markets are witnessing an unexpected force in 2024: the resurgence of the US dollar. With the US ...

Battered Commodity Currencies Gain Attention Amid Dollar’s Decline.

Naira Plummets to N1,234/$ at Official Market as Speculators Resume Hoarding

by Rate Captain

April 23, 2024

The Nigerian naira experienced a significant depreciation against the United States dollar, reaching N1,234 at the official foreign exchange market ...

Naira depreciates to N755/$ in the parallel market.

Naira Appreciating Faster Than Expected: BDCs Buying Dollars at N980/$, ABCON Confirms

by Jide Omodele

April 18, 2024

In a notable development for Nigeria's foreign exchange market, the Association of Bureau De Change Operators of Nigeria (ABCON) has ...

Dollar Firm as Tensions Rise in Middle East, U.S. Rate Hike Expectations Intact

by Jide Omodele

April 15, 2024

Amidst escalating tensions in the Middle East and the anticipation of stubbornly high U.S. interest rates, the dollar remained firm ...

Naira appreciates to N765/$ in the parallel market.

Naira Strengthens, Trading Below N1000 Against Dollar at Certain Segment of the Market

by Stephen Akudike

April 15, 2024

In the face of escalating geopolitical tensions and increased demand for safe-haven assets triggered by an Iranian strike on Israel, ...

Naira-Dollar Exchange Rate Plummets to Lowest Ever at N803/$1

Naira Sustains Bullish Stance Despite Dollar’s Aggressive Gains

by Stephen Akudike

April 12, 2024

Amidst the dollar's recent robust performance, the Nigerian naira steadfastly maintained its bullish trajectory this week, bolstered by lingering concerns ...