Tag
FX TURNOVER
The exchange rate between the naira and the dollar fell to a six-month low of N1,625.88/$1 on the official NAFEM market on Wednesday, August 4, 2024.
The Nigerian official foreign exchange (FX) market experienced a marked decline in turnover in August, despite the initial Retail Dutch Auction conducted by the Central Bank of Nigeria (CBN).
The Nigerian official foreign exchange (FX) market experienced a marked decline in turnover during the first two weeks of August, coinciding with the recent Retail Dutch Auction conducted by the Central Bank of Nigeria (CBN).
The Central Bank of Nigeria (CBN) has said that the results of its policy measures are becoming evident, with net foreign exchange flows rising to $25.4 billion between January and June, marking a 55% increase year-over-year.
The naira surged to N1,570/$1 on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window on Thursday, marking an increase of 2.47% from the previous day’s rate of N1,608.73/$1.
The naira has suffered further depreciation on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window, closing at N1,603.80/$1 on Thursday, July 25, 2024.
Parallel market operators are quoting a buy price above N1,600/$1 for holders of naira looking to buy dollars, as the local currency faces rising pressure.
The Nigerian official foreign exchange (FX) market witnessed a significant increase in turnover, rising by 40% this week.
The naira has suffered a significant depreciation on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window, falling to N1,561.98/$1 on Wednesday, July 10, 2024.
The naira has weakened further against the US Dollar, falling to N1,500.79/$1 on the official market on June 25, 2024.
The foreign exchange (FX) turnover on the Nigerian official market crashed by 75.98%, hitting a three-week low on Thursday.
The naira exhibited signs of moderate stability as foreign exchange (FX) turnover surged by 138.67% on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window.