Naira Sees 3.3% Gain as FX Market Condition Improves The naira strengthened by 3.3% to close at N1,354.21 per US dollar at Nigeria’s autonomous foreign exchange market on Monday. The local currency recorded a gain against the dominant US dollar as the gap between supply and demand for foreign exchange closed favourably. A slew of […]

Naira Launches Fresh Recovery, Foreign Exchange Rates Gap Slides The Nigerian naira rebounded from currency shock, trading at N1400 at the official window, according to information obtained from FMDQ Securities Exchange. The latest rally at the Nigerian autonomous foreign exchange market was supported by improved foreign currency liquidity. The forex market has seen riotous exchange […]

Naira Slightly Depreciates by 0.8% Against Dollar at Official Market The naira on Thursday slightly depreciated at the official market, trading at N1,402.67 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the naira lost N11.71 This represents […]

Naira Struggles to Retain Value after Celebrated FX Gains The naira struggled to retain value in the foreign exchange market, depreciated against the US dollar on Thursday at the official window. According to data from FMDQ Securities Exchange, the naira depreciated by 0.8% to N1,402.67 per greenback at the Nigerian Autonomous Foreign Exchange Market (NAFEM). […]