Forex Review
Today FX Rates: Naira Appreciates to ₦1,500.349 Per Dollar Following Crackdown on BDC Operators
The naira has registered a sharp move against the dollar in the exchange market. The naira to dollar rate has been in fluctuation since the beginning of 2024.
Today, February 25, 2024, it is exchanging 1 US Dollar for 1,500.349 … Continue Reading
Naira Slides as Banks Sell $3.3 Billion Amidst Fresh Forex Market Concerns
CBN Grapples with Increased Gap Between Official and Parallel Markets
The Nigerian naira witnessed a fresh decline against the US dollar, both in the official and parallel foreign exchange markets on Friday, raising concerns amidst efforts by the Central Bank … Continue Reading
Nigerian Government Mulls Conversion of Foreign Currency in Dom Accounts to Naira
Move Aims to Stabilize Naira Amidst Record Fall
The Federal Government of Nigeria is reportedly considering a policy shift that would involve converting foreign currencies in domiciliary accounts to naira.
Sources within the Presidency reveal that the plan is designed … Continue Reading