The volume of dollars traded on the Investor & Exporter forex window surged by 46.69 percent to $123.25 million on Monday, marking a significant increase from Friday’s turnover of $84.02 […]
Tag: dollar
Firms report N918.1bn loss on naira-dollar revaluation
Eight companies have reported a total currency revaluation loss of N918.1bn, attributing it to a 68.55% decline in the value of the naira against the dollar. Following the Central Bank […]
Naira extends decline, hits N1,080 against US dollar
The Nigerian Naira faced another significant depreciation against the US Dollar on Tuesday, reaching a rate of N1,080/$ in the parallel market. This marked a 4.85% decline when compared to […]
CBN boosts dollar supply and lifts ban on 43 items, including cement
In response to a decline in the value of the Nigerian Naira, the Central Bank of Nigeria (CBN) has announced measures to increase the supply of dollars in the foreign […]
Dollar strengthens as US economy holds strong; Australian dollar declines on employment figures
The U.S. dollar’s ascent has pushed the Japanese yen further into intervention territory, as the robust U.S. economy highlights the need for sustained higher interest rates. Meanwhile, the Bank of […]
Economists propose strategies to increase Dollar supply amid Naira depreciation
Economists have outlined several strategies to counter the depreciation of the Nigerian naira and address the scarcity of US dollars. One key recommendation is to secure balance of payment facilities […]
Forex shortage worsens, dollar hits N876
The Nigerian naira sustained its downward trajectory against the US dollar, reaching 876/$ in the parallel market on Sunday, as reported by Bureau de Change (BDC) operators. Just a week […]
Naira strengthens further at I&E window, closes at N742.9/$
The Nigerian naira experienced a positive upswing on Tuesday, strengthening by 6.58% to close at N742.93/$ at the investors and exporters (I&E) window. This improvement comes after the currency reached […]
Naira continues downward slide against Dollar ahead of new administration
As the incoming administration approaches, the Nigerian currency continues its decline against the US dollar. On Friday, at the Investors and Exporters window, the naira was traded at N464.51 to […]
Naira hits record low against dollar ahead of presidential inauguration
In less than two weeks before the inauguration of President-elect Bola Tinubu, Nigeria’s currency, the naira, has experienced a significant decline, reaching a historic low of N465.07 against the US […]
CBN allows foreign banks to provide dollar loans to Nigerians
Central Bank of Nigeria (CBN) has given foreign banks permission to grant loans to Nigerians and companies operating in Nigeria in dollars. This move by the CBN is aimed at […]
Nigeria’s Forex reserves plunge $1.82bn in four months, raising economic concerns
Over the last four months, Nigeria’s foreign exchange reserves have decreased by $1.82 billion, according to official data and reports. The forex reserves have been on a downward trend since […]
Dollar declines as inflation falls short of economists’ forecasts
The US dollar faced a significant downturn on Wednesday as consumer prices in the United States rose less than expected in March, leading experts to speculate that the Federal Reserve […]
Naira declines by 0.46% against the dollar
On Monday, the Naira experienced a decline in value against the dollar, trading at N463.50 at the investors’ and exporters’ window. This rate represents a 0.46% reduction compared to its […]