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Currency Watch
Naira gains N2.50k as dollar liquidity improves
Nigeria’s currency gained N2.50k as the dollar traded at an average rate of N463.50k on Thursday from N466 on Wednesday on the black market. The naira appreciation was due to improved…
Naira weakens to N466 as demand shifts to black market
Nigeria’s currency on Wednesday depreciated by N6.00k to an average of N466 from N460 as demand for dollar shifts from the official market to black market following the order by the Federal…
Naira falls to N460 to dollar despite CBN’s FX allocation to BDCs Monday
Nigeria’s currency on Monday dropped in value by N7 as the dollar was trading at N460 from N453 and N452.67k traded at the weekend and Friday on the black market. This is in spite of the…
UPDATED: Nigeria’s SEC classifies cryptocurrencies as securities in landmark…
Nigeria's Securities and Exchange Commission (SEC) on Monday designated the title of "securities" to crypto assets and hence will be regulated by it. According to the capital market…
Naira regains strength as dollar demand slows
Nigeria’s currency on Friday strengthened by N0.33k as the dollar closed at an average rate of N452.67k from N453 on Thursday on the black market. Traders said demand was lower on Friday…
Naira jumps to N453 despite central bank’s $101.8m sales to BDCs
Nigeria’s currency on Thursday lost N9.50k to the dollar, a day after the country’s central bank (CBN) sold $50 million to 5,000 Bureau De Change (BDC) operators in the second tranche of its…
Naira weakens by N3.50k as BDCs await second dollar allocation
Nigeria’s currency on Wednesday weakened by N3.50k to an average rate of N443.50k per dollar from N440 on Tuesday on the black market. The depreciation was due to speculative activities…
FX outflows for imports and invisibles jump by 146.15% in May – CBN
Foreign exchange outflow through autonomous sources mainly for imports and invisibles rose significantly by 146.15 percent to US$0.32 billion in May 2020, above the level of US$0.13 billion…
Naira defies central bank’s $51.8m sales to BDCs, falls to N444.33k
Nigeria’s central bank resumed dollar sales to Bureau De Change (BDC) operators on Monday, selling $51.8 million to 5,180 BDCs across the country. But this dollar allocation could not…
FX market opens with dollar selling at N440
Nigeria's currency was stable on Friday as the dollar was trading at N440 on the black market. This was a loss of N5 compared to N435 sold in some areas of Lagos on Thursday. The 'wait and…