The Naira lost N112.38 against the US dollar at the foreign exchange market in April 2024. FMDQ data showed that the Naira traded at N1,390.96 per dollar on Tuesday, 30th April, compared to N1,278.58 per dollar at the beginning of the month. This represents a 10 per cent depreciation against the dollar in the period […]
Naira gains against dollar at official forex market
The naira recorded its first gain against the US dollar at the official foreign exchange Market this week. FMDQ data showed an appreciation of N1,390.96 per dollar on Tuesday from N1,419.11 on Monday. This represents a N28.15 or 1.98 per cent gain against the dollar at the forex market compared to N1,419.11 it traded the […]
Naira loses N79 to dollar
The naira depreciated by N79.88 against the dollar at the official foreign exchange market. FMDQ data showed that the naira closed at N1,419.11 per US dollar on Monday, compared to N1,339.23 last Friday. This represents a 5.6 per cent depreciation against the dollar compared to N1339.23 on Friday. Meanwhile, the naira dropped to N1,280 per […]
Forex: Naira appreciates against dollar, gains N80
After days of depreciation, the naira bounced back against the US dollar in the parallel market. A Bureau De Change operator, Mistila Dayyabu, said in an interview with DAILY POST on Saturday that the naira appreciated to N1,300 per dollar from N1380 on Friday morning. “We buy at N1,290 and sell at N1300 on Saturday […]
Naira slumps seventh times against Dollar in days at Foreign Market
The Naira has slumped seven times in recent days against the US dollar at the foreign exchange. FMDQ data showed that the Naira recorded a seventh drop against the Dollar, quoting N1309.88 per Dollar on Thursday from N1308.52 on Wednesday. This represents a N1.36 loss on a day-to-day basis. At the parallel market section, the […]
Why Naira depreciated against Dollar – BDC operators
The Association of Bureau De Change Operators of Nigeria, ABCON, has blamed peer-to-peer cryptocurrency platforms like Binance for the recent depreciation of the Naira against the Dollar in the foreign exchange market. The National President of ABCON, Aminu Gwadabe, disclosed this in an interview with NAN on Wednesday. He stated that as long as Binance […]
FX crisis: BDC operators reveal plan to defend Naira against Dollar
The President of the Association of Bureau De Change Operators of Nigeria, ABCON, Aminu Gwadabe, has said the BDCs are working with the Central Bank of Nigeria, CBN, to ward off an attack on the Naira by speculators amid the recent rise in the dollar at the foreign exchange market. According to NAN, Gwadabe said […]
Again, Naira depreciates by N64 against Dollar at forex market
Again, the Naira lost N64.5 against the US dollar in the foreign exchange market. FMDQ data indicated that the Naira depreciated to N1,234.49 per US dollar on Monday compared to N1,169.99 on Friday. FMDQ data indicated that the Naira depreciated to N1,169.99 per Dollar at the foreign exchange market on Friday compared to N1,154.08 on […]
Naira will continue to appreciate against US dollar, Tinubu knows the game – Shettima
Vice President Kashim Shettima has assured that the naira will continue to appreciate against the dollar. Shettima said President Bola Tinubu understands the game and would ensure the naira continues to appreciate. The Vice President spoke when a delegation of the Lagos Chamber of Commerce and Industry, led by its President, Gabriel Idahosa, paid him […]
Naira depreciates three times against dollar in five days
The naira depreciated three times against the dollar in the last week in the foreign exchange market. FMDQ data indicated that the naira depreciated to N1,169.99 per dollar at the foreign exchange market on Friday, compared to N1,154.08 on Thursday. This represents a loss of N15.91 compared to the figure traded the previous day. On […]