Naira on Wednesday fell to all-time low of N456.33 per dollar despite increased liquidity at the official market. Foreign exchange (FX) activity levels, which is reflected in the daily turnover rose significantly by 181.62 percent but failed to shore up the value of Naira. The FX daily turnover increased to $377.48 million on Wednesday compared […]

read more Naira falls to all-time low despite 181.62% liquidity increase

Demand pressure continued on Friday at the official market, as naira fell to an all time low of N451.50 against the dollar due to shortage of the greenback at the Investors and Exporters (I$E) forex window. After trading on Friday, the dollar was quoted at the rate of N451.50/$ as against N451.33/$ recorded on Thursday […]

read more Naira records all-time fall at official market

Naira on Monday recovered to N735 per dollar, gaining 21.08 percent over N890 per dollar quoted early November 2022 at the parallel market. On a weekly basis, naira has gained 5.44 percent per dollar compared to N775 exchanged on November 25, 2022, the last Friday of that month. At the Investor and Exporters (I&E) forex […]

read more Naira recovers to N735 per dollar amid declining external reserves

Nigerian banks are expected to follow suit as Fidelity Bank Plc has temporarily extended its operating hours to 6.00pm after the Central Bank of Nigeria (CBN) announced that the new naira banknotes would be unveiled on Wednesday. Banks across the country operate between 8.00am and 4.00pm every working day. In a notice issued to its […]

read more New Naira: banks begin extension of operating hours to 6pm

Naira on Thursday lost 0.94 percent against the dollar, after it recovered from previous loss at the unofficial market known as the parallel or black market.  After trading on Thursday, the dollar was quoted at N795/1$ as against average of N787.50/1$, at the parallel market.  The depreciation of the Naira followed demand pressure from the […]

read more Naira loses 0.94% on increased demand for dollars