Market Watch
U.S. Dollar knocks down Naira in final trading session of August
The local currency slumped against the haven currency in the official trading session of the month, while the dollar index showed some gains on Friday.The naira settled at N1,598/$1 at the official window, according to data from the Nigerian...
Market Watch
Naira Drops 8.25% in I&E Window as Market Turnover Hits $176 Million
On October 2, 2024, the Nigerian naira lost value compared to the US dollar. It closed at N1,669.15 in the special I&E market where investors trade currencies.This was an 8.25% drop from N1,541, which was the value at the...
Market Watch
Naira Hits Seven-Month Low in Parallel Market as September Ends
In September 2024, the Naira ended at N1,541 on the official NAFEM window. This was a bit better than its performance in July and August 2024.But, in the parallel market, the Naira wasn't doing so great. It dropped to...
Market Watch
Naira Exhibits Moderate Gains in Official Market During September
The Nigerian currency, called the naira, had a tough end last month. On Monday, September 30, 2024, it was trading at N1,541.94 for $1. But during the whole month, it showed some strength.
At the beginning...
Market Watch
Exchange Rate for Customs Duty Collection Decreases to N1,637 per USD
The exchange rate for customs duties is now N1,637 to $1, which is lower than last week's N1,666 per dollar.
The customs exchange rate has been...
Market Watch
Zimbabwe’s ZiG Currency Plummets Over 40% Against Dollar Following Government Decision
Zimbabwe has a new money called the ZiG. But, the value of this ZiG money has dropped by more than 40%. This happened because the country's central bank made changes to try and match the official exchange rate with...
Market Watch
Tornado Cash Developers to Stand Trial for Facilitating Over $1 Billion in Money Laundering
The people who made Tornado Cash, a crypto mixing tool, are named Roman Storm and Roman Semenov. They will go to court because the United States said they did bad things with their platform. The court didn't accept their...
Market Watch
Naira Appreciates by 5.48% at I&E Window Amid Surging Market Turnover
The Nigerian naira got stronger against the US dollar and ended the day at N1,576.10 in the official Investor and Exporter (I&E) window on Thursday, September 26, 2024.This is a 5.48% improvement from the previous day’s closing rate...
Market Watch
Naira Gains Against Dollar, Hits N1,540.78 at I&E Window Despite Turnover Drop
On September 27, 2024, the naira got stronger compared to the US dollar, closing at N1,540.78 in the official Investor and Exporter (I&E) window.
This was a 2.24% improvement from the previous day's rate of N1,576.10. The naira is trying...
Market Watch
Decreased U.S. Index Levels, MPC Rate Increase Strengthen Naira
The Nigerian naira got a boost because the U.S. dollar became weaker and the Central Bank of Nigeria (CBN) surprised everyone by raising interest rates. Nigeria’s foreign exchange market is like a big, complicated puzzle.
On Thursday, the naira traded...
Latest News
30% of Lagos residents live with hypertension
The Lagos State Commissioner for Health, Akin Abayomi, has revealed that 30 per cent of residents in the state...