Naira Trends

Naira Fell to N1,604/$1 at close on Tuesday, Gains 0.25% on the official market average

Naira Fell to N1,604/$1 at close on Tuesday, Gains 0.25% on the official market average

The Nigerian naira fell against the U.S. dollar at the official market, closing at N1,604.00/$1 on Tuesday, down from N1,599.00/$1… Read More

4 months ago

Naira in Jeopardy as CBN Pumps $471M into Forex Market Amid U.S. Trade War

In an attempt to contain exchange rate volatility, the Central Bank of Nigeria (CBN) launched a daring foreign exchange (FX)… Read More

4 months ago

CBN Injects $197m as Naira Hits Record Low; Ekekwe Urges Exchange Rate Peg at ₦1,200/$

The Central Bank of Nigeria (CBN) on Friday intervened in the foreign exchange market, injecting $197.71 million to stem the… Read More

4 months ago

Trump’s Tariff Tantrum and the Curious Rise of the Naira

By early 2025, Nigeria’s long-beleaguered currency has staged an unlikely comeback. The naira, following two brutal devaluations, is now among… Read More

4 months ago

Naira Depreciates to ₦1,585/$ in Parallel Market despite weaker Dollar

On Wednesday, the Nigerian Naira depreciated, to ₦1,585 per dollar in the parallel market, down from ₦1,565 the previous day.… Read More

5 months ago

Naira Drops to N1550/$ in Black Market

The Nigerian naira has experienced a significant depreciation in the black market, reaching a rate of N1,550 per U.S. dollar… Read More

5 months ago

Naira’s Recent Surge to N1,500/$: Comparing Currency Defences and Interventions in Türkiye and Nigeria

Nigeria's naira has staged an impressive recovery in recent weeks, rebounding from a historic low of N1,900 per US dollar… Read More

5 months ago

BDCs Struggle to Buy Dollars from Banks as Parallel Market Rate Drops to N1,503/$

Bureau De Change (BDC) operators in Nigeria are finding it increasingly difficult to buy foreign exchange from commercial banks, as… Read More

5 months ago

Oil Prices Recover on Positive Chinese Manufacturing Data — What It Means for the Naira

Oil prices bounced back in early trading on Monday, buoyed by positive manufacturing data from China that raised hopes about… Read More

5 months ago

Naira Hits N1,500 per Dollar in Black Market as FX Pressure Resurfaces

The naira eased to N1,500 per dollar in the black market on February 28, 2025, giving up some of the… Read More

5 months ago