Dollar
26 Feb
In recent years, the naira-dollar market in Nigeria has so far been liberalised twice. The first, in June 2016 and the second, in June 2023. Both moves have significantly contributed to the rapid decline in the value of the naira. If the monetary authority firmly embraces and continues to stick to this option, the strength of the currency will yet again continue to shrink at an accelerating pace.
3 Feb
The Center for Fiscal Transparency and Integrity Watch (CFTIW) on Saturday raised the alarm over the free fall of the naira and its adverse effects on Nigerians and the economy. The Central Bank of Nigeria (CBN) has issued regulations to mitigate the forex crisis, the recent being a circular directing the "Harmonisation of Reporting Requirements…
3 Feb
Nigeria's central bank has said there was no plan to convert the funds in domiciliary accounts to naira. Media reports had claimed that the bank planned to convert about $30 billion in the accounts to naira to halt the Nigerian currency's free fall. "This news is fake," CBN said on its X account said on…
31 Jan
Amid sustained slide of naira, which currently trades around N1,500 in exchange to a dollar, the Central Bank of Nigeria (CBN) has warned authorised dealers to ensure that transactions are conducted transparently.
25 Jan
The central parity rate of the Chinese currency renminbi, or the yuan, strengthened nine pips to 7.1044 against the dollar on Thursday, according to the China Foreign Exchange Trade System.
17 Jan
The central parity rate of the Chinese currency renminbi, or yuan, weakened 34 pips to 7.1168 against the dollar on Wednesday, according to the China Foreign Exchange Trade System.
16 Jan
The Nigerian naira, on Monday, appreciated against the United States dollar, closing at N838.95 to $1 at the official foreign exchange market .
11 Jan
The central parity rate of the Chinese currency renminbi, or the yuan, weakened 32 pips to 7.1087 against the dollar on Thursday, according to the China Foreign Exchange Trade System.
10 Jan
The central parity rate of the Chinese currency renminbi, or the yuan, weakened 45 pips to 7.1055 against the dollar on Wednesday, according to the China Foreign Exchange Trade System.
9 Jan
The central parity rate of the Chinese currency renminbi, or the yuan, weakened four pips to 7.1010 against the dollar on Tuesday, according to the China Foreign Exchange Trade System.
9 Jan
The dollar paused its rally on Tuesday, as traders reaffirmed their bets for a slew of Federal Reserve rate cuts this year on the belief that inflation in the U.S. is slowing sufficiently.
24 Nov
The naira sustained its appreciation against the United States dollar at the parallel market as it appreciated on Friday, from N1,160 to N1,155.