Naira (Currency) - New Nigerian Politics

Naira falls against dollar across official, black markets

Posted by admin Economy, Headlines, Naira (Currency) Sunday, July 6th, 2025

By Ogaga Ariemu The naira depreciated against the dollar across official and parallel foreign exchange markets to end the week on a negative note on Friday. The Central Bank of Nigeria’s data showed that the naira dropped against the dollar on Friday to N1,528.56 from N1,525.83 exchanged on Thursday. This showed that the naira fell […]

Naira records highest gain against dollar on official market

Posted by admin Economy, Headlines, Naira (Currency) Saturday, May 3rd, 2025

By Ogaga Ariemu The naira continued its appreciation against the dollar at the official foreign exchange market on Wednesday, marking its highest gain so far this week. Data from the Central Bank of Nigeria showed that the naira further firmed up to N1,596.68 per dollar on Wednesday from N1,599.70 traded on Tuesday. This reflects a […]

Naira gains N42.88 against dollar weekly amid CBN auction system

Posted by admin Economy, General Politics, Headlines, Naira (Currency), National Politics, Top Stories Sunday, August 11th, 2024

Naira gains N42.88 against dollar weekly amid CBN auction system By Ogaga Ariemu The Naira gained N42.88 against the dollar at the foreign exchange on a week-on-week basis amid the Central Bank’s commencement of the Retail Dutch Auction System. This is according to FMDQ data in the last seven days. Last week Friday, August 2, […]

Naira strengthens to N1,000 against Dollar

Posted by admin Economy, Headlines, Naira (Currency) Tuesday, April 16th, 2024

Naira strengthens to N1,000 against Dollar By Sikiru Obarayese The value of the naira gained strength midday on Monday, opening at N1,130 to the dollar but rising to N1,000 by noon at the parallel market. This surge comes as traders anticipate another round of dollar sales to Bureau de Change (BDC) operators this week. Last […]

IMF sees Naira depreciating by 35% to N2,081/$1 in official market

Posted by admin Economy, Naira (Currency), Today's Politics Friday, February 23rd, 2024

By Yinka Kolawole The International Monetary Fund, IMF, has warned that the official exchange rate may further depreciate by about 35 per cent, this year, adding that this could lead to inflation rate peaking at 44 per cent before the monetary policy tightening could bring the situation under control. Naira, yesterday, traded at N1,542.58 […]

Naira drops to N2,000/1£ at parallel market

Posted by admin Economy, Headlines, Naira (Currency) Tuesday, February 20th, 2024

By Enioluwa Adeniyi Nigeria’s local currency, the naira, has plummeted to a new low, now trading above 2,000 naira against the Great Britain Pound in the parallel market. This was confirmed by a Bureau de Change operator in Wuse Zone 4, Malam Ibrahim, who spoke with Punch. He noted the currency’s significant depreciation amidst persistent […]

Naira falls 18% to N951.22/$ in NAFEM

Posted by admin Economy, Headlines, Naira (Currency) Friday, December 8th, 2023

By Elizabeth Adegbesan The naira yesterday depreciated to N951.22 per dollar in the Nigerian Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N951.22 per dollar from N806.73 per dollar on Tuesday, indicating 18 percent or N144.49 depreciation for the naira. Similarly, the naira depreciated to N1,172 […]

Naira falls to N927.19/$ in official market

Posted by admin Economy, Headlines, Naira (Currency) Saturday, December 2nd, 2023

By Elizabeth Adegbesan The naira today depreciated to N927.19 per dollar in the Nigerian Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N927.19 per dollar from N832.32 per dollar on Thursday, indicating N94.87 kobo depreciation for the naira. The market recorded an intraday high of N1160 […]

Naira appreciates in parallel market, steadies for 3 day

Posted by admin Economy, Headlines, Naira (Currency) Friday, November 17th, 2023

The naira has continued to appreciate in the parallel market in the last three days even as it maintained consistency in the official market. According to Aboki FX, the naira maintained its consistency even as it appreciated marginally against the United States dollar. For instance, while the market closed at N1140, on Monday at the […]

Naira hits new low at N820/$, as forex supply gap persists

Posted by admin Economy, Headlines, Naira (Currency) Tuesday, July 18th, 2023

By Babajide Komolafe, Economy Editor & Elizabeth Adegbesan At the backdrop of sustained supply gap in Nigeria’s foreign exchange (forex) market, the local currency, Naira, has hit a new low at the weekend, trading N803.9 to a dollar in the Investors & Exporters (I&E) window which is the official forex market and N822/$ in the […]