• Naira Crashes in the Black Market…See Current Value

    Naira Crashes in the Black Market…See Current Value

    The inflationary trend in Nigeria is bound to worse following an abysmal status of the local currency at the black market.

    These are the currency exchange rates for today, December 5, 2016 as powered by Zenith Bank

  • Naira Crashes Further in the Black Market… See Current Value

    Naira Crashes Further in the Black Market… See Current Value

    The naira has fallen terribly in the black market as Nigeria battles with hyper-inflationary trend.

    These are the currency exchange rates for today, December 2, 2016, powered by Zenith Bank Plc. This state of the naira against the dollar is expected to worsen Nigeria’s economic

  • Naira weakens this week, analysts predict further weakness next week

    Naira weakens this week, analysts predict further weakness next week

    In recent weeks, Nigeria’s currency has nose-dived, with analysts seeing it weakening further next week amid a crackdown on black market currency traders.

    The naira fell 2.08 percent week-on-week, selling on Thursday at N480 to the dollar on the parallel market against 470 a dollar last week, while it was quoted by commercial banks at 314.80 a dollar on the interbank market. The naira has, however, consistently closed around 305.5 a dollar level since August via the official window.

    According to reports, […]

  • See the Value of the Naira at the Black Market Today

    See the Value of the Naira at the Black Market Today

    The value of the naira in exchange for the dollar at the black market has failed to improve in the face of yesterday’s fall.

    These are the currency exchange rates for today, November 29, 2016, as powered by Zenith

  • Naira has lost 85 percent of its value in two years – CBN

    Naira has lost 85 percent of its value in two years – CBN

    The Central Bank of Nigeria, CBN, has revealed that the nation’s currency has lost about 85 per cent of its value in the last two years, harping on the need for risks managers in banks to brace up to the risks facing the banking sector.

    The Director, Banking and Payment System, CBN, Mrs. Tokunbo Martins, stated this at the weekend in a presentation made at a round-table discussion organised by the Risk Managers Association of Nigeria, RIMAN, in Lagos.

    She said the […]

  • Naira crashes in new currency exchange rate

    Naira crashes in new currency exchange rate

    The naira is having a hard time standing against the dollar as the currency takes the worst nose-dive in recent weeks.

    See snapshot of both interbank and parallel market

  • 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 gets weaker as recession deepens while CBN maintains monetary policy

    Naira gets weaker as recession deepens while CBN maintains monetary policy

    Tuesday saw the naira weakening against the dollar, few hours after the CBN maintained its benchmark interest rate at 14 per cent, and endorsed the crackdown on parallel market traders by security operatives.

    It lost N5 to exchange at N470 to the dollar at the parallel market from N465 it traded on Monday, while the Pound Sterling and the Euro closed at N565 and N495, respectively.

    At the Bureau De Change window, the naira was sold at N390, CBN controlled rate, while the Pound […]

  • 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 struggles against the dollar at forex market

    Naira struggles against the dollar at forex market

    The Naira opened at the interbank market and the parallel market today, struggling against the dollar in its usual fashion. Although some analysts see a rise in the naira this week, others are skeptical of any significant appreciation.

    Below are figures of todays exchange rates.

     

    The Naira opened at the interbank market and the parallel market today, struggling against the dollar in its usual fashion. Although some analysts see a rise in the naira this week, others are skeptical of any significant […]

  • Naira Crashes Again in the Black Market… See Current Value

    Naira Crashes Again in the Black Market… See Current Value

    The naira has again has taken a nosedive in the black market following days of struggles with the dollar.

    These are the currency exchange rates for today, November 17, 2016 as powered by Zenith Bank Plc. It would be recalled that the naira exhanged for N455 to a dollar yesterday before falling to N465