Exchange Rate Gap Widens as Speculation and Dollar Scarcity Pressure Parallel Market
The disparity between Nigeria's official and parallel foreign exchange rates has widened noticeably in early March 2026, driven by heightened ...
Tag: dollar
US Dollar Slides to One-Week Low Amid Escalating Geopolitical Risks and Trade Uncertainty
The US dollar weakened to its lowest level in a week on February 26, 2026, as investors scaled back positions ...
Larger Disparities Boom Between Black Market and Official Rates
The gap between Nigeria’s official and parallel (black market) exchange rates has widened to over 6%, reviving fears of renewed ...
Nigeria’s Foreign Exchange Reserves Reach $42.03 Billion, a Six-Year High
Nigeria’s foreign exchange reserves have surged to $42.03 billion as of September 19, 2025, achieving a 72-month peak not seen ...
Naira Declines to N1,537/$ in Official Market, Surpassing Parallel Market
The naira weakened slightly in the Nigerian Foreign Exchange Market (NFEM), falling to N1,537 per dollar from N1,536 per dollar ...
Naira Weakens to 1,532.34/$ Despite CBN Efforts to Stabilize Currency
The Nigerian naira closed weaker last week, depreciating by 0.14% to settle at 1,532.34/$ at the Nigerian Foreign Exchange Market ...
Naira Depreciates Below N1,600 Amid Forex Outflows and Global Trade War
The Naira has depreciated to N1,580 per dollar in the parallel market, marking its lowest value in five weeks, as ...
Naira Remains Stagnant Despite Weakening U.S. Dollar Index
The Nigerian naira showed little movement in the foreign exchange (FX) market on March 13, 2025, despite a decline in ...
Naira Holds Firm Against Dollar, Closes February Strong Amid CBN Interventions
The Nigerian naira demonstrated resilience in February 2025, closing the month with an 8.5% gain on the parallel market, settling ...
Exchange Rate for Customs Duties Collection Rises to N1,618/$
The Nigeria Customs Service (NCS) has adjusted the exchange rate for customs duties collection to N1,618.73 per dollar, marking an ...
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