Tag: Naira
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Naira outperforms several African currencies — World Bank
By Opeyemi Adelakun The naira was among the more resilient African currencies during the second quarter of 2026, despite pressure from geopolitical tensions and higher energy prices, according to the World Bank. The finding was contained in the World Bank’s October 2026 Africa Economic Update, which assessed exchange-rate movements across 22 African countries outside the…
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Naira Gains At Parallel Market, Trades At N1,370/$
By Opeyemi Adelakun The naira appreciated marginally against the US dollar in the parallel market on Wednesday, strengthening to N1,370 per dollar from N1,375 recorded the previous day. However, the local currency recorded a slight depreciation in the Nigerian Foreign Exchange Market, NFEM, where it closed at N1,329 per dollar. Data from the Central Bank…
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Naira Weakens To N1,382/$ In Parallel Market
By Opeyemi Adelakun The naira depreciated further against the United States dollar on Monday, falling to N1,382 per dollar in the parallel market from N1,378 recorded at the weekend. The currency also weakened in the Nigerian Foreign Exchange Market, NFEM, where it closed at N1,331.5 per dollar, compared with N1,330 per dollar recorded last weekend.…
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Naira Gains As FX Supply Improves, Reserves Rise To $52.66bn
By Opeyemi Adelakun The naira strengthened against the United States dollar last week, supported by improved foreign exchange supply and increased liquidity in the market. The local currency closed at N1,346.49 per dollar in the official market, gaining N11.11 during the five trading days under review, according to data from the Central Bank of Nigeria.…
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Naira Holds Steady as Dollar Trades at ₦1,368 Officially, ₦1,405 on Parallel Market
By Opeyemi Adelakun The naira maintained relative stability against the United States dollar on Friday, trading at about ₦1,368.22/$ 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…
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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…