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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

Forex Reserves Fall by $342.97 Million, Marking First Decline in Four Months

musteey -
Nigeria's money saved from the rest of the world has gone down by about $342.97 million in just nine days.This information comes from the Central Bank of Nigeria (CBN).The small drop in Nigeria’s savings happened right before the government...
Market Watch

Nigerian Naira Sees Best Two-Week Gain, Closes at N1,570/$1 on Thursday

musteey -
The value of the naira, Nigeria's money, went up to N1,570 for $1 on Thursday. This was on the Nigerian Autonomous Foreign Exchange Market (NAFEM). It means the naira got stronger by 2.47%...
Market Watch

Nigeria to Launch $500 Million Domestic Dollar Bond on Monday

musteey -
The Nigerian Government is getting ready to offer a special type of bond called a dollar bond next Monday. They hope to collect $500 million from people inside and outside Nigeria. This information was shared by Dr....
Market Watch

Nigeria’s Exchange Rate Drops by 6.43% in July Despite CBN’s FX Interventions

musteey -
In July 2024, Nigeria's exchange rate dropped to N1608.73 per $1. This means the naira lost 6.43% of its value in the official market. According to FMDQ data, the naira was at its lowest in four months in July. It...
Market Watch

Central Bank to Reimplement Auctions (rDAs) to Tackle Forex Shortage

musteey -
The Central Bank of Nigeria (CBN) is planning a new way to help people who need foreign money (like dollars). This new plan is called the Retail Dutch Auction System (DAS). This...
Market Watch

Customs Duties Collection Exchange Rate Increased to N1,618 per Dollar

musteey -
The cost to pay Nigeria Customs Service (NCS) has gone up. Now, it is N1618.73 for 1 dollar. Before, it was N1600.32 for 1 dollar. This new price is the highest since March 2nd, 2024. Back then, it was N1630...
Market Watch

Food Accounts for 17% of Nigeria’s Import Expenditures in Q1 2024

musteey -
Key Points Nigeria spent $689.88 million on food imports in Q1 2024, making up 17% of total foreign exchange (FX) spending on imports. This is a 40% increase from the previous quarter. ...
Market Watch

Foreign Exchange Crisis: Nigeria’s ID4D Project Benefits with N8.6 Billion Gain from 2023 Naira Devaluation

musteey -
The value of the Nigerian Naira dropped, which helped the Nigeria Identification for Development (ID4D) project gain N8.6 billion. This project, backed by big international groups like the World Bank, wants all Nigerians to get their National Identification Number...
Market Watch

Forex Turnover Reaches Lowest Level Since January with Naira Stabilizing Above N1,600/$1

musteey -
The amount of money exchanged in foreign currency (known as forex) on the FMDQ official market was just $61.9 million. This is the lowest amount since January 2024. This is also the second smallest...
Market Watch

FG Aims to Raise $500 Million Through Dollar-Denominated Bonds, Eyes 200% Subscription Rate

musteey -
The Nigerian government has started a new plan to make money by creating Series I Domestic USD Bonds. They want to get at least $500 million from people both inside and outside the country.From the information available, the government...
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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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