Nigerian Naira hits All-Time Low, losing 72% of its value since June reforms
The Nigerian naira has reached a new record low this week, with attempts to stabilize the currency through record-high fixed-income ...
Tag: FX Market
Naira falls 5.5% in Official Market as dollar demand rises
The Nigerian naira fell by 5.5% in the official market on Thursday, with the dollar quoted at N1,649.76, down from ...
Naira/Dollar Rate Convergence Marks Major Shift
On Thursday, the foreign exchange (FX) market witnessed a significant development as the naira/dollar rate reached N1,520 in both the ...
CBN’s Record Dollar Sales in May Exceed March, April Combined
The Central Bank of Nigeria (CBN) marked a significant milestone in May 2024 by achieving its highest dollar sales in ...
Significant Drops in Nigeria’s FX and Fixed Income Markets in April 2024
Nigeria's financial markets experienced notable declines in turnover during April 2024, according to the FMDQ Markets Monthly Report. The Spot ...
Naira Remains Weak Despite Surge in Dollar Supply
Despite a substantial increase in dollar supply by commercial banks and other market operators, the naira continues to exhibit weakness ...
Nigerian Naira Hits Lowest Level Against Dollar Since March
The Nigerian naira fell to its lowest value against the dollar since March 13, 2024, reaching 1,419.11 per dollar at ...
EFCC Freezes 300 Suspected Illegal Forex Accounts
In a significant move to combat financial irregularities, the Economic and Financial Crimes Commission (EFCC) announced on Tuesday the freezing ...
LCCI Urges Forex Market Discipline for Naira’s Stability
The Lagos Chamber of Commerce and Industry (LCCI) has highlighted the imperative of maintaining discipline in the foreign exchange market ...
Naira Remains Stable Against US Dollar as Forex Trading Commences
The foreign exchange (FX) market kicked off the week with the Nigerian naira maintaining its position against the US dollar, ...
