The Nigerian Naira has sustained its positive momentum, appreciating to N1,595 per dollar in the parallel market on Tuesday. This marks a significant improvement from N1,610 per dollar on Monday, reflecting a N45 week-on-week (WoW) gain from N1,640 per dollar recorded last Tuesday. This steady rise in value signals a period of stability for the … Read more
The naira showed a slight appreciation against the dollar as the foreign exchange market resumed operations after the New Year holiday. According to data from FMDQ, the naira strengthened to N1,538.23 per dollar on Thursday, up from N1,538.25 on Tuesday, reflecting a modest gain of N0.02. However, on the parallel market, the naira depreciated, falling … Read more
The Nigerian naira weakened to N1,541.36/$ on the first trading day of 2025, marking a 0.36% depreciation from the 2024 closing rate of N1,535.82/$. Some authorised dealers quoted the dollar at N1,545/$, an improvement from the N1,550/$ quoted on Tuesday. The parallel market saw the naira close at N1,655/$ compared to N1,670/$ on Tuesday. In … Read more
The Nigerian Naira experienced mixed movements on Monday, appreciating slightly in the parallel market to N1,660 per dollar while depreciating in the official market to N1,550 per dollar. The contrasting trends highlight ongoing volatility in Nigeria’s foreign exchange market amid efforts to stabilize the currency. Parallel Market Gains: Naira Strengthens Slightly In the parallel market, … Read more