Nigeria’s FX Turnover Hits $7.4 Billion in July, Reflecting Increased Trading Activity
Nigeria's foreign exchange (FX) market experienced a significant boost in trading activity in July 2024, with a turnover of N11.48 ...
Tag: Naira
CBN Adjusts Customs Duty Exchange Rate, Reduces Costs for Importers
The Central Bank of Nigeria (CBN) has implemented a new exchange rate for calculating customs duties, offering relief to importers ...
Naira Rebounds in Official Market but Struggles in Parallel Market
The Nigerian naira made a notable recovery in the official market on Wednesday, August 21, 2024, after a sharp depreciation ...
Naira Displays Mixed Signals as Dollar Gains Some Strength
The Nigerian naira exhibited a mix of gains and losses against the US dollar in the foreign exchange market on ...
Naira Stays at N1600/$ Despite Positive Market Indicators
The Nigerian naira continued to hover around N1600 per dollar in the black market on Wednesday morning, maintaining its position ...
Inconsistent Dollar Supply by CBN Hinders Naira Recovery, Say BDC Operators
Currency traders have blamed the persistent depreciation of the naira and the volatility in Nigeria's foreign exchange (FX) market on ...
Government Revenue Sees N2.74 Trillion Boost from Weak Naira in Six Months
The federal, state, and local governments in Nigeria collectively gained an additional N2.74 trillion in revenue from exchange rate fluctuations ...
Naira Strengthens Amid CBN’s Dollar Injection as Official and Parallel Markets React
The Nigerian naira has experienced a significant strengthening in the official foreign exchange market, marking three consecutive days of appreciation. ...
CBN Conducts $876 Million Auction to Bolster Naira, Drops 12-Month Forex Policy
The Central Bank of Nigeria (CBN) has taken a significant step to stabilize the naira by auctioning $876.26 million to ...
Naira Appreciates to N1,585 Against Dollar in Parallel Market
The Nigerian Naira showed a significant improvement against the US dollar in the parallel market on Tuesday, appreciating to N1,585 ...
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