Tag: Dollar
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Naira Continues Rapid Gain Against the Dollar as Rate Drops to N1,535
The Nigerian naira has experienced a remarkable appreciation, closing at N1,535 to the dollar on Friday, December 6, 2024, in an unprecedented market transformation driven by the Central Bank of Nigeria’s Enhanced Foreign Exchange Market System (EFEMS). The trading day revealed extraordinary market dynamics, with an intra-day high of N1,575 and a low of N1,510,…
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Naira Gains Three Days of Consecutive Appreciation
The Nigerian naira has shown significant gains in recent days as trading data reveals a steady appreciation of the naira across both official and parallel markets. On the Nigerian Autonomous Foreign Exchange Market, the currency closed at 1,567/$ on Thursday, a notable improvement from 1,608/$ the previous day and a substantial leap from 1,660/$ on…
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Naira Falls to N1,750 Against Dollar in Parallel Market, Gains in Official Window
The Nigerian Naira showed mixed performance across different markets on Friday, depreciating to N1,750 per dollar in the parallel market while strengthening in the official Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ revealed that the Naira gained N6.05 in the official window, closing at N1,652.62 per dollar compared to Thursday’s rate of N1,658.67.…