Naira to Dollar Rate Today
Market Watch
Nigeria’s Foreign Reserves Climb to $36.89 Billion – Cardoso Reports
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, said that Nigeria’s savings in foreign money have gone up to $36.89 billion by July 16, 2024.
Mr. Cardoso told this to the Senate...
Market Watch
Analysts Forecast Naira Stabilization Between N1,423.26/$ and N1,550/$ by End of 2024
Sure, I'll rewrite the blog post in simpler terms so that it's easy for everyone, including kindergartners, to understand. Here we go:Experts at United Capital Plc think Nigeria's money exchange rate will become steady. They believe it...
Market Watch
Summer Travel and Robust U.S. Dollar Drive Naira to 4-Month Low
During summer vacation, people travel more and need foreign money. This makes Nigeria's naira weaker. On Wednesday, one dollar cost N1,612.50 in the official market, which is a four-month low.Interestingly, in the black market, the naira did a bit...
Market Watch
CBN Sells $106.5 Million to 29 FX Dealer Banks, Cites Demand Pressure for Naira Depreciation
The Central Bank of Nigeria (CBN) has shared some big news! They have sold $106.5 million in foreign exchange (FX) to 29 banks.Dr. Omolara Omotunde Duke, the Director of Financial Markets Department, explained that on...
Market Watch
Shareholders Criticize Government’s 50% Windfall Tax on Banks’ Forex Profits
The New Dimension Shareholders Association of Nigeria is very unhappy with the Nigerian Government's plan to add a big 50% tax on banks because they made money from foreign exchanges.
President Bola Tinubu suggested...
Market Watch
CBN Could Allocate Up to $110.81 Million for FX Sales to BDCs This Year
The Central Bank of Nigeria (CBN) might spend up to $110.81 million selling foreign money (FX) to authorized Bureau De Change (BDCs) this year.So far, CBN has sold FX five times to these BDCs. If all 1,583 approved BDCs...
Market Watch
Exchange Rate Surges Past N1,600/$1 in Parallel Market, Reaches N1,630/$1 on Online Platforms
Right now, if you want to buy dollars with naira on the street (not at banks), you need more than N1,600 for one dollar. Our local currency, the naira, is struggling.
...
Market Watch
BREAKING: CBN to Offer $20,000 to Each BDC at N1,450 per Dollar
The Central Bank of Nigeria (CBN) said it will start selling foreign money, called FX, to special shops called Bureau De Change (BDCs). These shops help people who need money for trips and small payments.
A....
Market Watch
Customs Duties Collection Exchange Rate Surpasses Official Market Rate Once More
The exchange rate for paying duties with the Nigeria Customs Service (NCS) has gone up by N3 more than the official closing rate of the Naira on the NAFEM window.
...
Market Watch
Government to Implement 50% Tax on Banks’ Realized FX Profits in Revised 2023 Finance Act
Sure, I'll rewrite the blog post using simpler and more straightforward language. I'll make sure it's easy to understand even for young children. Here we go:---The federal government wants to take half of the profit that banks make from...
Latest News
Nasty Blaq: “Excessive Disrespect Shown to Davido”
Nasty Blaq, someone who makes funny videos, feels sad about how people are treating the singer named Davido on...