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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 Duties Exchange Rate Decreases to N1,512 per USD

musteey -
Customs Duties Exchange Rate Drops From July 5th to July 7th, 2024, the exchange rate for customs duties went down from N1516/$ to N1512/$....
Market Watch

Naira Reaches June Low as Dollar Strengthens

musteey -
The naira, Nigeria's currency, became a bit more stable in the official market, even with some pressure from the U.S. dollar. In simple terms, the naira’s value was better this time when compared with previous trades.According to FMDQ, the...
Market Watch

UK’s New Leader: British Pound Gains Strength Against Naira and US Dollar

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The world money market felt better after years of ups and downs when Keir Starmer’s Labour Party won big in the UK elections.The British pound kept most of its value against the Nigerian naira this year and stayed strong...
Market Watch

Naira Continues 8-Day Downward Trend, Sliding to N1,507.83/$1

musteey -
On Wednesday, the naira, which is Nigeria's money, got weaker against the dollar. It ended the day at N1,507.83 for $1. This information comes from the FMDQ, a place where currencies are officially traded. In June, the exchange rate...
Market Watch

Nigeria’s External Reserves Reach $34 Billion, Highest Since March

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Nigeria's external reserve reached a new milestone in June, climbing to $34.07 billion. This is the highest amount since March 2024. This data is from the Central Bank's reserve position as of June 26, 2024. ...
Market Watch

Nigeria’s Official Market Faces Five-Month Low in Dollar Liquidity for June 2024

musteey -
In June 2024, the Nigerian Autonomous Foreign Exchange Market (NAFEM) had one of its lowest foreign exchange (FX) turnovers in five months. This means there was less trading of dollars, and it made things tough for Nigeria's currency, the...
Market Watch

Why Do So Many People Quit Forex Trading?

musteey -
Key Points Over 90% of new Forex traders lose most of their money because they aren't ready or have unrealistic hopes. Success means managing risk well. This includes using...
Market Watch

New Directive: Banks to Deposit Excess Foreign Exchange at CBN Branches in Lagos and Abuja

musteey -
The Central Bank of Nigeria (CBN) has rolled out new rules. These rules make it easier for Deposit Money Banks (DMBs) to deposit extra foreign cash at its branches in Lagos and Abuja. This way,...
Market Watch

Nigeria’s Exchange Rate Plummets by 40% in First Half of 2024, Despite Forex Reforms

musteey -
Story Highlights Nigeria’s exchange rate closed June 2024 at N1,503.3/$1, marking a 1.3% depreciation for the month. Despite breaking the N1,500/$1 barrier, the exchange rate stayed pretty steady, moving between N1,470 and N1,503. This is the...
Market Watch

Nigeria Accounts for 35% of Sub-Saharan Africa’s Diaspora Remittances in 2023

musteey -
Simple Explanation of Nigeria's Diaspora Remittances Nigeria got a lot of money from people living abroad...
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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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