Naira Continues Decline Against US Dollar in Official and Black Markets
The Naira faced further depreciation against the United States dollar, continuing its downward trend in both the official and black ...
Tag: Naira
Naira Continues to Appreciate for Third Consecutive Day on Official Market
The exchange rate between the Nigerian naira and the US dollar has continued its upward trajectory for the third consecutive ...
CBN Cracks Down on Cryptocurrency Exchanges as Binance Disables Naira Feature
In response to escalating concerns over cryptocurrency-related activities, Binance, a leading global crypto exchange, has disabled its peer-to-peer (P2P) feature ...
Dollar Crashes Against Naira on Binance Trading at N1,415/$ Amid CBN Directives to BDCs
The US dollar has experienced a significant decline against the Nigerian naira on the cryptocurrency exchange platform Binance, sparking considerable ...
CBN Sells Dollars to BDCs at N1300/$1 As Naira Gains Ground in Parallel Market
In recent developments in Nigeria's foreign exchange market, the Central Bank of Nigeria (CBN) has taken significant steps to address ...
FX Crisis: Examining FX Manipulation, Crypto Platforms, and Regulatory Response
The Nigerian economy is currently facing significant challenges, particularly with the ongoing FX crises and the depreciation of the Naira. ...
IMF Warns of Further Depreciation of Naira, Predicts Exchange Rate to Hit N2,081/$1
The International Monetary Fund (IMF) has issued a cautionary forecast, predicting a potential 35% depreciation in the official exchange rate ...
Banks Sell $172 Million as CBN and EFCC Combat Currency Speculators
In a bid to curb the activities of currency speculators and stabilize the exchange rate, Nigerian banks have sold approximately ...
P2P market crosses N1800/$1 as Official Rates Settled at N1551/$
The Nigerian naira witnessed mixed fortunes in forex markets on Tuesday, February 20th, 2024, with the official exchange rate settling ...
African Currencies Face Devaluation Amid Economic Challenges
A combination of economic and political factors has contributed to the weakening of several African currencies, including the naira in ...
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