By Cowry Asset Last week, the local currency appreciated week-on-week (w-o-w) against the Dollar at the Investors & Exporters Forex Window (I&E FXW) by 0.06 percent to close N360.85 amid weekly injections by Central Bank of Nigeria (CBN) of $210 million into the foreign exchange market; of which $100 million was allocated to Wholesale (SMIS),… Continue reading Naira Gains 0.06% at I&E Window, Weakens by 0.28% ar Black Market
Tag: naira weakens
Naira Weakens Against Euro as CBN Lifts Market with $210m
By Dipo Olowookere The Naira depreciated against the Euro on Wednesday at the black market just as the Central Bank of Nigeria (CBN) supported the foreign exchange market with a fresh $210 million to sustain fluidity at the market. The local currency, which was exchanged at the parallel market on Tuesday at N425 per Euro,… Continue reading Naira Weakens Against Euro as CBN Lifts Market with $210m
Foreign Reserves Fall as Naira Weakens Further
By Modupe Gbadeyanka There seems to be more trouble for Nigeria as its foreign reserves fell to a two-week low and the Naira depreciated further at the parallel market on Friday to N390 per Dollar. According to Reuters, the black market Naira rate, on Friday, which has firmed 17 percent since for some weeks due… Continue reading Foreign Reserves Fall as Naira Weakens Further
Naira Crashes to N506 per Dollar on Parallel Market
By Modupe Gbadeyanka The Naira on Friday, February 10, 2017 reached a fresh all-time low of N506 to the Dollar on parallel market. The local currency, which opened the day at N503 per Dollar on Friday morning, was traded for N506 in the afternoon and closed for the day at the same rate. The acute… Continue reading Naira Crashes to N506 per Dollar on Parallel Market