October 4, 2023
  • October 4, 2023

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Naira drops against the dollar after CBN grants banks the freedom to trade forex

by on June 15, 2023 0
At the Investors and Exporters window on Wednesday, the Naira lost value as compared to the dollar, trading for $664.04 in USD. As opposed to the N471.67 it swapped for the dollar on Tuesday, the local currency has decreased by 40.78%, according to NAN. After giving banks the go-ahead to lift the rate cap... Read More

Naira drops against dollar after remaining stable

by on June 9, 2023 0
At the Investors and Exporters window on Thursday, the Naira lost value in relation to the dollar, trading for N469.50. When compared to the N464.67 it exchanged for the dollar on Wednesday, the local currency experienced a 1.04 percent decline. Thursday’s closing open indicative rate was N468.94 to the dollar. Before it closed at... Read More

Naira depreciates to N464.42 against Dollar at official exchange market

by on May 24, 2023 0
The Naira declined on Tuesday at the Investors and Exporters window, trading at N464.42 to the dollar, only five days before the inauguration of the next administration. Compared to N463.50 traded on the day before (Monday), the amount reflects a 0.20 percent decline. In light of this, an open indicative rate on Tuesday closed... Read More

Ahead of May 29 inauguration, Naira falls to 760/$1

by on May 19, 2023 0
The Naira has dropped to N765/$1 with just ten days till the next administration’s May 29th inauguration. On Friday, this information was revealed by Danzali Abdulrahman, a Bureau De Change operator in Zone 4 of Abuja. In the parallel market, often known as the black market, the dollar is purchased for N765 to one... Read More

CBN’s Net Domestic Credit rose to N70.6trn in March

by on April 29, 2023 0
The Central Bank of Nigeria’s Net Domestic Credit increased from N70.2 trillion in February to N70.6 trillion in March as a result of the rising debt load. On a monthly comparison, the figure represented 0.56%. A net domestic credit of N70.6 trillion was generated as a result of lending to the public and private... Read More

Naira appreciates against US dollar

by on April 18, 2023 0
The Nigerian naira saw profitable trading in relation to the US dollar as it increased on the Investors and Exporters (I&E) and black-market forex markets. According to data, the Nigerian currency appreciated N1.75 or 0.38 percent versus the US dollar on Monday at the spot market, closing at N462.25 to $1 as opposed to... Read More