10 Practicable Ways To Increase Value Of Nigerian Naira Against USD And Other Foreign Currencies
Summary: A look at policies Nigeria’s apex bank (Central Bank of Nigeria) can consider to increase the value of Nigerian Naira against other currencies.
Foreign Exchange
Nigeria foreign exchange market is a decentralized or over-the-counter market for the trading of currencies. This includes the value of Nigeria naira to US dollars, Pounds Sterling and other foreign currencies across the World.
Check US Dollar to Naira Daily Black Market Rate Today in Nigeria
The black market exchange rate of the US dollar to Naira in Nigeria early morning of Tuesday, February 02, 2021, was N474/N480 (buy/sell).
Disclaimer: This data is collated from various black market dealers in Lagos, Nigeria, meaning the price you find on this page WILL be slightly different from what you get in your state or street. Location matters.
CBN defends naira with $4.37bn in three months
The foreign exchange market gulp $4.37bn in the third quarter of 2020 as one of the moves by the Central Bank of Nigeria (CBN) to stabilize the naira.
The third-quarter economic report of the apex bank revealed that the CBN’s periodic interventions in the forex market is targeted at boosting the supply side of the market.
List of Currencies In Africa: Currency Sign And Code
In the pre-colonial era, African countries adopted their own means of exchange. For instance, in Nigeria, there was trade by barter system.
In layman’s words, trade by barter is using your own goods in exchange for other goods you’re in need of.
ALERT! TransferWise, Azimo Not Registered In Nigeria – CBN Warns Nigerians
The Central Bank of Nigeria (CBN) has warned that Azimo Money Transfer isn’t a registered IMTO in Nigeria.
The apex bank in a tweet also warned Nigerians to steer clear of another international money transfer operator TransferWise, saying they’re not licensed to handle money transfers in Nigeria.
IMTOs: List Of International Money Transfer Operators in Nigeria
Some payment platforms get the approval of the Central Bank of Nigeria to carry out cross-border payments and currency exchange.
In this post, we’ll give you an updated list of international money transfer operators (IMTOs) in Nigeria.
25 Weakest Currencies in Africa, Naira Is On The List Despite Nigeria’s Rich Economy
All over the world, a currency can either be strong or weak, depending on many factors and economic policies of such country, financial experts say.
Most of the currencies in Africa are weak even before the World was hit by the coronavirus pandemic. But the pandemic has even made more currencies to lose their value against the US dollar, Euro, British Pound which are mostly used for international trade exchange.
Why Kuwaiti Dinar Remains The Strongest Currency In The World, KWD Is Valuable Than US Dollar, Euro, & Pounds
Summary: We’ll tell you why Kuwait Dinar remains valuable than the US dollar, the most widely circulated and traded currency on forex and why KWD has maintained the number spot for several years.
Is Dubai Currency Higher Than Naira?
Over time, we’ve heard Nigerians asking, “Is the Emirate Dirham higher than the Nigerian Naira?” They are mostly those who are seeking greener pasture in the Arabian country.
5 Things to Watch in Dollar To Naira This Week December 14, 2020
Dollar to Naira Exchange Rate this week Monday, December 14, 2020, to Friday, December 18, 2020, is going to be interesting and here are the five things that could trigger a slight spike in the value of US dollar against the Nigerian Naira this week.
Top 40 Strongest Currencies In The World, USD, GBP, Euro Are Not On Top 4
A currency is money in paper form (banknotes) or coins backed by law and accepted as a medium of exchange among the people. So, what’s the strongest or valuable currency in the world today and how does it perform against the Nigerian Naira?
Naira-Dollar Closes At N475/1USD At Parallel Market On December 4, 2020
The daily parallel market exchange rate closed at ₦475/1USD as Nigeria dived into the first weekend in the month of December (Friday, Dec 4, 2020).
It showed a slight depreciation from the previous day, Thursday, December 3, when trading at the black market closed at N470/1$.
Influence of IMTOs On Foreign Currency Exchange Rate in Nigeria
Hey, have you read the latest CBN directive on remittances? If you haven’t, we’ll tell you more about it and the influence of IMTOs on foreign currency exchange rate in Nigeria.
How To Use Domiciliary Account In Nigeria According To CBN Guidelines
Domiciliary Account allows individuals, businesses and corporate organisations to receive and make payments in foreign currencies.
In this post, we’ll tell you the CBN circular on the domiciliary account and other guidelines of the apex bank regarding the operation of Dom accounts in Nigeria.
US Dollar Sells for N495 At Parallel Market, Hours After CBN Comment on Forex
The Nigerian Naira now goes for N495 against one US dollar at the parallel market at the close of trading Thursday, November 27, 2020, it’s the worse exchange rate in weeks.
Parallel Market Is Shallow Godwin Emefiele
Governor of Nigeria’s apex bank Godwin Emefiele has said that the parallel market is shallow and illegal, patronise by those who engage in illicit transactions and for “corruption purposes”
Parallel Market: CBN Governor Got It Wrong On Foreign Exchange
I watched the governor of the Central Bank of Nigeria (CBN) Godwin Emefiele speak on the activities of speculators on the foreign exchange on TV, he looked and sounded helpless.
Naira Depreciates To N478 Against USD At Parallel Market, Worst Exchange Rate In 7 Months
The pressure on the Nigerian currency persists as Naira depreciated further Wednesday, hitting N478 against 1US Dollar.
It closed at N470/$1 at the parallel market on Friday, November 13 while it started the week on a more disappointing way, it sold for N475 against the US dollar which it maintained till the close trading on Tuesday, November 17.
Naira Weakens To 470/USD Despite Nigeria’s Apex Bank Interventions
Between November 11-November 13, 2020, the interventions of the Central Bank of Nigeria (CBN) seemed to be losing impact as Naira weakened against the US dollar.
Nigeria’s Foreign Exchange Falls To $35.63bn, Lowest In 2 Months
Nigeria’s foreign exchange reserves have fallen to $35.63 billion, should investors be worried?
The latest from the Central Bank of Nigeria (CBN) has shown Nigeria’s FX has declined, indicating the lowest level since August 2020.