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Naija247news Exchange Rate

Naira falls marginally at investor’s window

By Fabian Ekeruche Lagos, July 22, 2020 The Naira on Wednesday dipped slightly against the dollar at the investor’s window, closing at N388.7 to a dollar from N388.50 traded on Tuesday. Market turnover at the investor’s window stood at 29.77 million dollars, shedding 8.95 million...

Naira exchanges at N472 to dollar at parallel market

By Fabian Ekeruche Lagos, July 21, 2020 The Naira on Tuesday exchanged at N472 to a dollar at the parallel market in Lagos, Naija247news reports. The Pound Sterling and the Euro also exchanged for N575 and N530 respectively. The Naira, however, traded at N388.17 to a...

Naira Depreciates Further Against USD at Most FX Windows…

In line with our expectations, Naira deprecaited further against the USD at the Investors and Exporters FX Window (I&E FXW) by 0.52% to close at N388.50/USD. Also, NGN/USD exchange rate rose (i.e Naira depreciated) by 0.43% and 1.08% to close at N462.00/USD and N470.00/USD respectively,...

WeekAheadFX: Naira seen weaken to N470 on black markets

Nigeria’s naira is seen weaker on the black market as demand shifts to the unofficial market after the central bank this week told lenders to stop processing new trade documents for maize imports, traders said. The naira is quoted on the unofficial market at 470,...

Nigeria’s naira weakens by N0.50k as dollar quotes N386.50k against N386.00k on I&E forex window

Nigeria’s currency weakened by N0.50k on Wednesday as the dollar was quoted at N386.50k as against N386.00k quoted on Tuesday at the Investors and Exporters (I&E) forex window. In the I&E FX market, trade volumes remained very low due to tightened liquidity. Most participants maintained...

Naira Loses Against USD as CBN Devalues Official Rate to N381/USD…

In the just concluded week, Naira deprecaited against the USD at the Investors and Exporters FX Window (I&E FXW) by 0.13% to close at N386.50/USD even as CBN devalued its official rate to N381/USD from N358.51/USD in line with the market-based autonomous foreign exchange window. Also, NGN/USD...

Naira’s official exchange rate may rise to N430/$ in Q4 – Report

Nigeria's naira official exchange rate may fall to N430 to the dollar by the end of 2020, United Capital Plc, a pan-African investment banking and financial services group, said on Tuesday. According to the firms economic forecast for the second half of the year, titled,...

Non-deliverable forwards see naira lose fifth of its value in 365 days

Non-deliverable forwards see the naira losing a fifth of its value over the next 12 months after the Central Bank of Nigeria, (CBN) devalued the naira at one of its currency auctions, according to people familiar with the matter. Nigeria’s naira eased 5.5% on the...

CBN devalues Naira’s official exchange rate by 5.5% to N381 to US dollar

The Nigerian central bank has devalued its official exchange rate by 5.5% to 381 naira to the dollar from 360 naira, according to data on the website of FMDQ OTC Securities Exchange, the Lagos-based platform that oversees foreign-exchange trading. The bank has not issued a...

Naira Gains Against USD at I&E FXW Despite Dwindling External Reserves…

In the just concluded week, Naira appreciated against the USD at the Investors and Exporters FX Window (I&E FXW) by 0.09% to close at N386.00/USD despite the dwindling external reserves. It fell week-on-week by 0.16% to USD36.16 billion as at Thursday, July 2, 2020. However, NGN/USD...
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