Forex Review
Naira Falls to N1,685/$ in The parallel market
Naira Experiences Fluctuations as Parallel Market and NAFEM Rates Diverge
Abuja – Nigerian Naira depreciated in the parallel market, falling to N1,685 per dollar on Tuesday, down from N1,660 per dollar the previous day. This decline highlights the ongoing volatility … Continue Reading
Naira appreciates 24 hours after CBN intervention
Naira Makes Strong Gains Against Dollar After FX Sale to BDC Operators
The Nigerian naira made a significant appreciation against the US dollar on Thursday, just a day after the Central Bank of Nigeria (CBN) sold foreign exchange … Continue Reading
Poverty Crisis Deepens in Argentina Under Milei’s Austerity Measures
Over 52% of Population In Argentina Now Living in Poverty Under ‘Anarcho-Capitalist’ President
BUENOS AIRES, ARGENTINA- Argentina’s poverty rate has skyrocketed to 52.9 percent in the first half of 2024, according to the national statistics bureau, INDEC. This alarming figure … Continue Reading
Naira Slips Further: CBN, Currency Traders Releases New $, £ And € Exchange Rates
CBN Struggles to Stabilize Naira as Official Rate Falls to N1,562.66/$1, Parallel Market Hits N1,666/$1
The Nigerian naira started the week on a weaker note, falling against the US dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). According to … Continue Reading
Nigeria Launches $500 Million Domestic Dollar Bond at 9.75% Interest
Nigeria’s New $500 Million Bond Offers 9.75% Interest
The Federal Government of Nigeria has issued its inaugural $500 million domestic dollar bond, offering an attractive 9.75% interest rate to investors. This bond, the first of its kind in … Continue Reading
Naira appreciates to N1,510/$ in parallel market
The Nigerian currency, Naira, experienced a mixed performance in the foreign exchange market yesterday, appreciating in the parallel market and depreciating in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
According to data from FMDQ, the Naira strengthened to … Continue Reading
Forex Gain Now Major Source Of FAAC Revenue – Report
A recent report by the think-tank organisation, Agora Policy, has revealed that exchange gains have become a significant source of revenue for the Federation Account Allocation Committee (FAAC). The report, titled “How Exchange Gain Became a Major Source of … Continue Reading
EFCC Bans dollar transactions, Asks embassies to charge in naira
The Economic and Financial Crimes Commission (EFCC) has issued a stern warning to foreign missions operating in Nigeria, prohibiting them from conducting transactions in foreign currencies and mandating the use of the Naira in their financial dealings.
This directive, aimed … Continue Reading
naira now world’s worst performing currency -bloomberg
Nigeria’s currency, the naira, has recently experienced a significant downturn, emerging as the worst performing currency globally over the past month, as reported by Bloomberg.
The latest report underscores the mounting pressure on the Central Bank of Nigeria (CBN) … Continue Reading
Nigeria Customs Service Increases Foreign Exchange Rate for Import Duties to N1,441.58/$
The Nigeria Customs Service (NCS) has announced a hike in the foreign exchange (FX) rate for import duties to N1,441.58 per dollar, marking a 4.94 percent increase compared to the previous rate of N1,373.64/$ adopted on May 1.
This adjustment … Continue Reading