Naira records first appreciation against dollar across black, official FX markets

Demand for fx rises as naira’s depreciation continues - Daily Trust

The depreciation of the local currency against the dollar continued yesterday as the naira exchanged for 1,540.57 at the official market, checks by Daily Trust indicated. This is coming against the backdrop of the increasing demand for dollars, which has seen the naira losing value against the foreign currencies. The Central Bank of Nigeria (CBN) had sustained its intervention in the foreign exchange market with a view to keep the local currency…

Naira records first appreciation against dollar across black, official FX markets

The naira appreciated against the dollar across both parallel and official foreign exchange markets on Monday, marking its first gain since last week. A Bureau de Change operator at Wuse Zone 4, Abuja, Abubakar Alhasan, told DAILY POST that the naira traded at N1,570 per dollar on Monday, compared to N1,580 recorded on Friday last week. This indicates that the naira gained N10 against the dollar on Monday, strengthening from N1,580 on Friday and…

Naira struggles at official window, depreciates to 1536/$

The naira struggled at the official window in the past week, shedding 1.25 per cent week-on-week to settle at 1536.89/$ on Friday.

StatePress NG: Naira strengthens in parallel market but weakens in official market

Naira Records Mixed Fortunes, Appreciates in Parallel Market but Depreciates in Official Market

The Nigerian currency, Naira, experienced a mixed performance on Wednesday, appreciating in the parallel market but depreciating in the official market. According to reports, the Naira gained strength in the parallel market, trading at N1,575 per dollar, up from N1,585 per dollar on Monday. However, in the Nigerian Foreign Exchange Market (NFEM), the Naira depreciated to N1,535 per dollar, indicating a N2 depreciation from N1,533 per dollar on M…

Naira returns to depreciation against dollar at official market

The naira returned to depreciation against the dollar at the official foreign exchange market on Tuesday.This comes as Central Bank of Nigeria exchange data showed that the Naira fell to N1,532.39 per dollar on Tuesday from N1,531.19 on Monday.This means that the Naira weakened slightly against the dollar on a day-to-day basis by N1.2.Meanwhile, at the black market, the naira remained stable at N1,570 per dollar on Tuesday, the same exchange rat…