• GOOD NEWS!!! Naira strengthens against dollar at interbank market

    GOOD NEWS!!! Naira strengthens against dollar at interbank market

    The Naira on Friday appreciated against the dollar at the interbank market, after sustaining losses for two days, the News Agency of Nigeria reports.

    The Nigerian currency gained N5.28 to close at N307.79 from N313.07 posted on Thursday.

    Trading at the Bureau De Change segment of the market showed that the Naira exchanged at N433, N550 and N472 against the dollar, Pound Sterling and the Euro respectively.

    At the parallel market, the Nigerian currency gained one point to exchange at N435, while it […]

  • Naira depreciates against three currencies at interbank market

    Naira depreciates against three currencies at interbank market

    The Naira depreciated against three currencies at the interbank market on Wednesday.

    The local unit depreciated by 0.23 percent to 314 Naira 92 kobo to the Dollar, 3.13 percent to 422 Naira 64 kobo to the Pound and by 0.33 percent 352 Naira 46 kobo to the Euro.

    At the parallel market, the Naira firmed by 0.47 percent to 423 against the Dollar, but fell 0.56 percent to 540 against the British Pound, and traded flat at 465 against the Euro.

    Traders are […]

  • 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 […]

  • Naira Makes Significant Improvement in the Interbank Market….See Current Value

    Naira Makes Significant Improvement in the Interbank Market….See Current Value

    The value of the naira has improved at the interbank market technically referred to as the official rate.

    These are the currency exchange rates for 18/08/16 as of 10:00am as powered by Zenith Bank. There is a slight improvement in the value of the

  • Naira Crumbles at the Interbank Market…See Current Value

    Naira Crumbles at the Interbank Market…See Current Value

    The naira has crumbled at the interbank market with a slight improvement in the parallel market.

    These are the currency exchange rates for 11/08/16 as of 10:00am as powered by Zenith Bank. The interbank market has suffered a setback with a recent fall in the value of the naira in exchange for the

  • Naira Crashes Woefully at the Interbank Market for the First Time…Check Out Latest Value

    Naira Crashes Woefully at the Interbank Market for the First Time…Check Out Latest Value

    All is not well with the economy of Nigeria as the naira continues on a free fall against the dollar at the interbank market.

    Nigeria’s naira fell to an all-time low on Thursday, crossing 300 to the dollar for the first time after the central bank last month lifted its peg on the currency to allow it to trade freely on the interbank market.

    The naira fell 5.4 percent against the greenback to 309 at 1224 GMT on dollar supply shortages. It […]

  • Interbank market shut over new forex regime

    Interbank market shut over new forex regime

    Barely 24 hours after the Central Bank of Nigeria (CBN) opted to leave naira’s fate to market forces, the Chief Executive Officers of commercial banks and currency dealers will be meeting with CBN’s officials today to discuss trading conditions under the new interbank foreign exchange regime.

    This was even as the CBN could not hold any new dollar-naira trades on the interbank market yesterday but did $13.6 million of carryover trades at the pegged rate of N197.5.

    Dealers said they expected no […]