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Naija247news Exchange Rate

US Dollar value slips as yields dive on recovery worries

by Babatunde Abdulfatah Singapore, Aug. 5, 2020 The dollar fell in Asia on Wednesday, hitting a five-month low on the yuan. This is as the latest coronavirus relief package stalled in Congress and U.S. yields sank on the prospect that further monetary easing might be...

Naira Appreciates Against USD at I&E FX Window…

In the just concluded week, Naira appreciated slightly against the USD at the Investors and Exporters FX Window (I&E FXW) by 0.06% to close at N389.25/USD. However, amid wider disparity between the different exchange rates windows, NGN/USD exchange rate rose further (i.e Naira depreciated further)...

Naira Depreciates Further Against USD at Most FX Windows…

In line with our expectations, Naira depreciated further against the USD at the Investors and Exporters FX Window (I&E FXW) by 0.26% to close at N389.50/USD. Also, NGN/USD exchange rate rose (i.e Naira depreciated) by 0.87% and 0.43% to close at N466.00/USD and N472.00/USD respectively,...

How to crash spike in exchange rate — ABCON Chief

By Fabian Ekeruche Lagos, July 26, 2020 The Association of Bureau De Change Operators of Nigeria (ABCON) has said that the reopening of the BDC window for foreign exchange, among others, would crash the prevailing spike in the exchange rate. Alhaji Aminu Gwadabe, President, ABCON, said...

Naira weakens marginally to dollar

By Fabian Ekeruche Lagos, July 24, 2020 The Naira on Friday weakened marginally against the dollar at both the parallel market in Lagos and the investor’s window. The Nigerian currency traded at N472.5 to the dollar at the parallel market, down by 0.5 points from...

Dollar slides against major currencies as Sino-U.S. tensions escalate

Singapore, July 23, 2020 (Reuters/Naija247news) The dollar crept off milestone lows against other majors, on Thursday, and held on to gains against the yuan, as heightened Sino-U.S. tensions kept currency markets cautious. The United States gave China until Friday to close its consulate in Houston...

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,...
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