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Naira Exchange Rate

Nigeria Naira exchange rate tracker. Naira to Dollar Parallel market Tracker. Naira To Dollar CBN rate tracker.

Market Watch

Customs Exchange Rate for Duty Collection Surpasses N1,600 per Dollar

musteey -
The naira has dropped in value, and now Nigeria Customs Service (NCS) uses an exchange rate of N1601.84 per $1 for import duties.  On Friday, July 26, 2024, the naira traded at N1,609 per $1, the lowest in four...
Market Watch

Naira Experiences Modest Gains as U.S. Dollar Faces Volatility

musteey -
The Nigerian naira got a little stronger at the end of the week, going below N1600. This happened while the dollar changed a lot in global markets. In the NAFEX market, the naira went up by...
Market Watch

CBN Distributes $148 Million to 29 Forex Dealers Amid High Naira Demand

musteey -
The Central Bank of Nigeria (CBN) has sold a total of $148 million to authorized dealers. On Friday, CBN said these transactions, done on July 22...
Market Watch

Nigerian Government to Launch $500 Million Dollar-Denominated Domestic Bond

musteey -
Government to Issue $500 Million Bonds The government will soon issue $500 million in bonds that people can buy using foreign currency. This will happen in about three to four weeks. The Minister...
Market Watch

Nigerian Banks’ Forex Revaluation Gains Reach an Estimated N3.3 Trillion; GTCO, Zenith Bank, and Access Corp Lead

musteey -
Nigeria’s biggest banks made a lot of money from forex changes, totaling N3.37 trillion in 2023 and early 2024.The government, led by President Tinubu, plans to tax these big earnings.This information comes from Nairalytics, which studies money matters. They...
Market Watch

Nigerian Government to Launch $500 Million Dollar-Denominated Domestic Bond

musteey -
The federal government is planning to issue bonds worth $500 million in the next three to four weeks. These bonds will be in foreign currency but for the domestic market.Wale Edun, the Minister of Finance, spoke about this during...
Market Watch

Naira Plummets: Nigeria’s Exchange Rate Plunges to N1,603.80 per Dollar, Marking Lowest Level in Four Months

musteey -
The naira, Nigeria's money, became weaker against the US dollar. On Thursday, July 25, 2024, it was worth N1,603.80 for one dollar. Just a day before, it was N1,586.71 for one dollar. This means the naira got weaker by...
Market Watch

Nigeria Could Gain Up to 0.3% of 2024 GDP from Windfall Tax on Banks’ FX Profits

musteey -
Nigeria plans to introduce a new tax on money banks make due to the changing value of foreign currencies. This tax could add up to 0.3% to Nigeria's Gross Domestic Product (GDP) in 2024. This helps the country get...
Market Watch

Exchange Rate for Customs Duties Collection Falls by N43 as Naira Strengthens

musteey -
Sure! Let's make this blog post easy to understand, and I'll keep the HTML tags as requested. The exchange rate for import duties collection by the Nigeria Customs Service (NCS) has gone down from N1,584/$ on July 22 to N1,541/$...
Market Watch

Nigeria’s Spending on Forex for Overseas Education Drops by 83% in Q1 2024

musteey -
Between January and March 2024, Nigerians spent $38.17 million on studying abroad.This information comes from the Central Bank of Nigeria's (CBN) report for the first quarter of 2024.The money spent on foreign education decreased by 83% from $218.87 million...
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Healthmusteey -

Nigeria's population could rise to 450 million by 2050: experts

Experts have expressed concern about the possible increase in Nigeria's population, which could reach 450 million by 2050 if...
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