• Nigeria’s foreign reserves appreciates by $658 million

    Nigeria’s foreign reserves appreciates by $658 million

    Nigeria’s forex reserve recorded an appreciable increase in the last four weeks as it rose by $658 million within November alone, a source at the Central Bank of Nigeria (CBN) confirmed to newsmen yesterday.

    The source, who pleaded anonymity, said the reserve recorded a huge increase last week, pushing the figure up from $23.95billion where it was at the beginning of the month to about $24.60 billion.

    The Monetary Policy Committee (MPC) had hinted that there was an increase in the forex […]

  • Naira appreciates against dollar at interbank market

    Naira appreciates against dollar at interbank market

    The Naira on Wednesday appreciated against the dollar at the interbank market.

    The Nigerian currency gained 50k to close at N304.50 compared to N305 it traded on Tuesday.

    At the Bureau De Change window, the Naira was sold at N400 CBN controlled rate, while the Pound Sterling and the Euro traded at N565 and N500, respectively.

    Skeletal but clandestine trading at the parallel market saw the Naira closed at N470 to a dollar, while the Pound Sterling and the Euro closed at N565 […]

  • Naira appreciates at interbank market

    Naira appreciates at interbank market

    The Naira on Monday gained 50k to exchange at N305.00 to a dollar at the interbank market, the News Agency of Nigeria reports.

    The Nigerian currency had closed at N305.50 for most part of last week at the interbank market.

    However, naira remained stable at the parallel market, closing at N465 to a dollar, while Pound Sterling and Euro exchanged at N565 and N490, respectively.

    Trading at the Bureau De Change window saw the naira closing at N390 to a dollar, CBN controlled […]

  • Naira appreciates after DSS action on currency dealers

    Naira appreciates after DSS action on currency dealers

    Despite last week’s raid and arrest of some licensed currency dealers who were said to be selling foreign exchange (FX) above the prescribed limit, the naira appreciated on both the interbank and parallel segments of the market.

    Precisely, on the interbank FX market, the spot rate of the naira climbed N1.45 to close at N304.75 to the dollar last Friday, stronger than the N306.50 to the dollar the previous day.

    Also, on the parallel market, the naira appreciated by N5 to trade […]

  • Naira appreciates against dollar

    Naira appreciates against dollar

    It was gathered that the Naira on Tuesday appreciated against the dollar in all the segments of the forex market, the News Agency of Nigeria (NAN) reports.

    The currency gained N44.95 to exchange at N305.27 to the dollar at the interbank market after its Monday’s record of N350. 22.

    At the parallel market, the naira gained N5 to exchange at N465 from N470 it traded on Monday, while it went for N565 and N510 against the Pound Sterling and the Euro, respectively.

    Trading […]

  • Naira appreciates at the forex market

    Naira appreciates at the forex market

    The Naira on Thursday appreciated at the forex market barely 24 hours after liquidity challenges forced it to depreciate thrice in six hours, the News Agency of Nigeria (NAN) reports.

    The Nigerian currency gained five points to close at N465 at the parallel market, from N470 it traded on Wednesday, while the Pound Sterling and the Euro exchanged at N565 and N505 respectively.

    Trading at the Bureau De Change (BDC) window saw the Naira close at N385 to a dollar, while the […]

  • Naira appreciates against dollar at parallel market

    Naira appreciates against dollar at parallel market

    According to reports, the Naira on Tuesday appreciated against the dollar at the parallel market, closing at N468 to a dollar, the News Agency of Nigeria (NAN) reports.

    The Nigerian currency gained N2 from N470 it posted on Monday while it exchanged at N570 and N517 against the Pound Sterling and the Euro, respectively.

    Trading at the Bureau De Change (BDC) segment of the market showed that the Naira was sold at the approved rate of N380 to the dollar, while Pound […]

  • Naira appreciates against dollar

    Naira appreciates against dollar

    According to reports, the Naira on Wednesday appreciated against the dollar in all the segments of the foreign exchange market.

    The currency gained 9.97 points to exchange at N310.24 from N320.21 it recorded on Tuesday, representing an appreciation of 3.1 per cent.

    It also gained a point against the dollar at the parallel market, exchanging at N475 from N476 posted on Tuesday, while it closed against the Pound Sterling and the Euro at N590 and N510, respectively.

    At the Bureau De Change segment […]

  • Naira appreciates against dollar at interbank market

    Naira appreciates against dollar at interbank market

    It was gathered the Naira on Monday appreciated against the dollar at the interbank market, the News Agency of Nigeria (NAN) reports.

    The currency gained 1.4 points to exchange at N307.25 to the dollar, from N308.69 it exchanged on Friday, representing an appreciation of 0.5 per cent.

    It, however, stabilized at the parallel market, exchanging at N425 to the dollar, a figure it had maintained for three days, while it traded against the Pound Sterling and Euro at N550 and N470, respectively.

    Trading […]

  • Naira appreciates against dollar in Forex market

    Naira appreciates against dollar in Forex market

    The Naira on Friday appreciated against the dollar in all the segments of the Forex market, the News Agency of Nigeria (NAN), reports.

    The Nigerian currency exchanged at N422 to the dollar, gaining 3 points from N425 it traded on Thursday, while the Pound Sterling and the Euro closed at N535 and N464 respectively.

    At the Bureau De Change segment of the market, the Naira also strengthened against the dollar, exchanging at N415, and N535 and N460 to the Pound Sterling and […]

  • Naira appreciates against dollar at interbank market

    Naira appreciates against dollar at interbank market

    The naira on Wednesday appreciated against the dollar at the interbank, the News Agency of Nigeria (NAN) reports.

    The local currency closed at N316.24 to the dollar at the segment from N338.96 traded on Tuesday.

    At the Bureau De Change (BDC), the naira exchanged at N413, N530, and N460 against the dollar, pound sterling and the Euro, respectively.

    The naira, however, extended its losses at the parallel market, trading at N420, N535 and N461 against the dollar, Pound Sterling and the Euro, respectively.

    The […]