Tag: Naira
-
Naira Gains As FX Supply Improves, Reserves Rise To $52.66bn
By Opeyemi Adelakun The naira strengthened against the United States dollar last week, supported by improved foreign exchange supply and increased liquidity in the market. The local currency closed at N1,346.49 per dollar in the official market, gaining N11.11 during the five trading days under review, according to data from the Central Bank of Nigeria.…
-
Naira Holds Steady as Dollar Trades at ₦1,368 Officially, ₦1,405 on Parallel Market
By Opeyemi Adelakun The naira maintained relative stability against the United States dollar on Friday, trading at about ₦1,368.22/$ in the official foreign exchange market, while the parallel market rate hovered around ₦1,405/$ as traders monitored liquidity levels and demand for foreign currency. Data from the Nigerian Foreign Exchange Market (NFEM), published by the Central…
-
Naira Hits Near Two-Year High, Appreciates Sharply Against US Dollar
The Nigerian currency, the Naira, appreciated significantly against the United States Dollar on Tuesday, reaching its highest level in nearly two years across both the official and parallel foreign exchange markets. According to data released by the Central Bank of Nigeria (CBN), the Naira strengthened to N1,335.96 per dollar at the official market, up from…