Naira At N610, Records 205% Devaluation Against Dollar Since 2015.
THE nation’s currency, Naira, slid to N610 to a dollar over the weekend at the parallel market in Lagos and Abuja, thus widening the gap between the official and parallel market exchange rates to N191. The exchange rate hovered between…
Naira Keeps Dipping Against Dollar.
Nigeria local currency Naira pushed towards N620.00 to a dollar at the peer to peer market on Saturday. Currency dealers in Lagos, Nigeria’s economic hub, exchanged the naira at N600.00 and sold N610.00 to a dollar, while Abuja black market…
Naira Heading Above N600/ $1 In P2P Market , As Dollar Appreciates In Global Forex Market
Nigeria local currency Naira opened at N600.00 per $1 at the parallel market otherwise known as the black market, today, 4th May 2022, in Lagos Nigeria, after it closed at N591.00 per $1 on Tuesday, 3 May 2022 as the long holiday ends….
Naira Drops To N590 Per Dollar At P2P Market.
The exchange rate at the peer-to-peer market fell sharply to N590/$1 on Thursday morning, this is the highest rate recorded since Naira downward trend continues unabated in the forex market. It also represents a 0.51% depreciation compared to N587/$1 recorded…
Dollar Hits N590, Forex Scarcity Worsens.
The continued foreign exchange scarcity in Nigeria has worsen even as the exchange rate on the parallel market is inching towards N590/$1, recent forex market report shows. The development may lead to massive job loss in the manufacturing industry, among other…
Naira Drops To 581 To A Dollar At P2P Market.
Naira loses at the Peer-to-Peer (P2P) market on Friday to trade at N581.2/$1, representing a 1.1% depreciation compared to N575/$1 that it had maintained in the previous three trading sessions. The exchange rate between the naira and the US dollar…
Naira Drops At N580 To A Dollar At Black Market Today As Forex Demand Grows.
The exchange rate at the parallel market fell on Monday to close at N580/$1, representing a 1.22% decline compared to $573/$1 recorded in the previous trading session, according to information obtained from BDC operators. Nairametrics is reporting that FX turnover…
Why Young Nigerians Prefer Crypto To Naira
Despite government hostile look on crypto in Nigeria, Nigerians are adopting crypto in defiance of the government. Nigeria is considered one of the top oil-rich countries in the world, but 40% live in poverty. Cryptocurrencies and NFTs are a way…
Naira Falls Despite CBN Intervention.
Report from FMDQ securities revealed that Naira performance dropped at both the official market and parallel market in spite of the defence of the apex bank, at the time of reports Naira fall from N564 to N574 on the black…
CBN Devalues Naira, Modifies Forex Rate.
The Central Bank of Nigeria (CBN) adjusted the country’s exchange rate on its website to N413.49/$1 — in what seems to be another devaluation this new year. In May, the apex devalued the naira from N379 to N411 per dollar by adopting the…