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.

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 …

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Foreign Exchange Market Nigeria Dollar To Naira

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. It’s N470/1USD at the parallel market at the close of business on Friday, November 13, 2020, a data from abokifx.com revealed. On November 11, it’s N466/1USD, by the second …

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usdollar_to_naira_exchange_rate_parallel_market

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. Nigeria’s reserves have not been impressive since the outbreak of COVID-19 pandemic. In October 28, it declined to $35.69bn from $35.74bn …

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