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Nigeria’s Naira depreciated on Tuesday, April 23, in the Nigerian Foreign Exchange Market (NAFEM), to N1,300.15 per dollar, exceeding the parallel market rate by N45.15. Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,300.15 per dollar from N1,234.49 per dollar last week Friday, indicating N65.66 depreciation for the naira. Similarly, […]
Continue ReadingNigerian 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 […]
Continue ReadingIn 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 […]
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