Tag: official market

The Naira on Friday closed the week slightly weaker, as it lost 19 kobo against the U.S. dollar at the official market, trading at N1,533.74. Data released on the official website of the Central Bank of Nigeria (CBN) showed that the Naira traded on Thursday at N1,533.55, according to News Agency of Nigeria (NAN). On […]

Nigeria’s Naira further depreciated at both the official and parallel markets on Monday. At the official, Nigerian Autonomous Foreign Exchange Market (NAFEM), the naira dropped to 1,523.85 per dollar, depreciation from the previous close of 1,509.67 to the American dollar. NAFEM is the market trading segment for Investors, Exporters, and End-users that allows for forex […]

Nigerian naira appreciated against the United States American dollar, closing at N791.75/$1 at the official market. According to data from the FMDQ Securities Exchange, the naira rose by 5.87 per cent or N49.39 compared to the previous day’s rate of N841.14/$ at the Nigerian Autonomous Foreign Exchange Market (NAFEM). The naira’s gain was, however, expected […]

In spite of recent moves by the Central Bank of Nigeria (CBN) to strengthen the foreign exchange market, the Naira closed trading on the Investor & Exporter forex window on Thursday at N996.75 to $1. This is a 13.95 per cent decline from the N874.71 to $1 it closed trading on Wednesday. So far, the […]