Naira to Dollar Rate Today
Market Watch
Remittance Inflows Soar by 130%, Reaching $553 Million in July 2024 – CBN
The Central Bank of Nigeria (CBN) has shared some happy news. In July 2024, they got a lot more money sent into Nigeria from other countries, reaching $553 million. This is a big 130% jump compared to July 2023.This...
Market Watch
BDC Operators Say Inconsistent Dollar Supply from CBN Hampers Naira Recovery
People who trade money say the naira is getting weaker and the exchange market is always changing because the Central Bank of Nigeria (CBN) doesn't always give Bureau De Change (BDC) operators dollars regularly.BDC operators admit that when the...
Market Watch
Dangote Group Acquires $105.33 Million in Latest CBN Retail Dutch Auction
The Dangote Group, which owns many businesses, got a big chunk of money in the latest Central Bank of Nigeria (CBN) auction. They managed to buy $105.33 million in foreign exchange (FX) bids. This makes up about 13% of...
Market Watch
URGENT: FG Launches $500 Million Five-Year Domestic Dollar Bond at 9.75%
Nigeria’s $500 Million Domestic Dollar Bond
The Nigerian government is offering a $500 million dollar bond...
Market Watch
Naira Faces Hardships at N1,600 Floor Despite Dollar Index Hitting Lowest Since January
In the past week, the Naira had trouble keeping at N1,600 in the official foreign exchange (FX) market, even though the US Dollar index was at its lowest level since January.
According to FMDQ...
Market Watch
FX Turnover Declines by 21% in Early August Amid CBN’s Retail Dutch Auction
The Nigerian foreign exchange (FX) market saw less activity in early August 2024. This happened at the same time as the Central Bank of Nigeria (CBN) held a Retail Dutch Auction.
...
Market Watch
Naira Depreciation Leads to N2.74 Trillion Increase in Government Revenue Over Six Months
In the first half of 2024, Nigeria's federal, state, and local governments made around N2.74 trillion from exchange rate gains.This information comes from reports by the Federation Account Allocation Committee (FAAC), shared by the National Bureau of Statistics (NBS).Gains...
Market Watch
Forex Reserves Fall by $342.97 Million, Marking First Decline in Four Months
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
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
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....
Latest News
Coalition Criticizes Kano Local Government Elections as ‘Comedy Gone Too Far’ Despite Court Order
The National Patriotic Coalition (NPC) is very unhappy about the recent local government elections in Kano State. They said...