Pressure Mounts on Naira, Sells for N475/$1 at BDC Market

By Adedapo Adesanya The pressure on the Naira showed no sign of easing as it dropped against the US Dollar at the Bureaux De Change (BDC) segment of the foreign exchange market on Friday, August 14. According to data obtained by Business Post from the Association of Bureau De Change Operators of Nigeria (ABCON), the… Continue reading Pressure Mounts on Naira, Sells for N475/$1 at BDC Market

Fresh Worry as Naira Climbs to N462 Per Dollar at Black Market

By Adedapo Adesanya The poor performance of the Naira against the United States Dollar at the parallel market is beginning to give investors and others something to worry about. At the segment of the foreign exchange (forex) market on Wednesday, the domestic currency further depreciated against its American counterpart to start the new month and… Continue reading Fresh Worry as Naira Climbs to N462 Per Dollar at Black Market

Naira/Dollar Exchange Rates Steady in Most Market Segments

By Cowry Asset This week, in line with our expectation, the Naira/Dollar exchange rate was relatively stable week-on-week at the interbank market (NIFEX), Bureau De Change and parallel market segments by at N329.75/$, N360/$ and N363/$ respectively. This was amid injections by the CBN worth $195 million into the foreign exchange market of which $100… Continue reading Naira/Dollar Exchange Rates Steady in Most Market Segments

Naira/Dollar Exchange Rate Steady in Alternative Segments

By Cowry Asset In line with our expectation, the Naira/Dollar exchange rate was relatively stable week-on-week at the Bureau De Change and Parallel market segments by at N360/USD and N363/USD respectively. This was amid injections by the CBN worth $195 million into the foreign exchange market of which $100 million was allocated to Wholesale (SMIS),… Continue reading Naira/Dollar Exchange Rate Steady in Alternative Segments