Dollar Archives - Voice of Liberty NG

Naira depreciates by 0.34% against dollar at official market

May 4, 2025May 4, 2025 Aminu Imam

The Naira depreciated on Friday at the official market, trading at ₦1,602.18 to the dollar. Data from the Central Bank of Nigeria (CBN) website showed that the Naira lost ₦5.49. This represents a 0.34 percent loss when compared to the ₦1,596.69 per dollar recorded on Wednesday, April 30, before the Workers’ Day holiday on Thursday, May 1. The Naira had remained relatively static for three trading days, from Monday, April 28, to Wednesday, April 30, when it traded at ₦1,599.95, ₦1,599.71, and ₦1,596.69, respectively. The local currency, which closed the…

Naira defies CBN�s interventions, depreciates to N1,510/$

May 13, 2024May 13, 2024 Aminu Imam

The depreciation of the nation’ s currency, the Naira, persisted over the weekend, with the currency trading at N1,510 to a dollar in the parallel market and 1,466.31 at the official market. This marks a notable decline from its previous levels, with the exchange rate increasing by N40 between Thursday and Friday alone. Despite recent efforts and interventions by the Central Bank of Nigeria (CBN) to stabilise the naira, including supplying dollars to Bureau-De-Change (BDC) operators to boost liquidity, the currency has continued to weaken. Just a few months ago,…

Naira depreciates to 1,399/$1 & 1,430/$1 at official, parallel�windows

April 28, 2024April 28, 2024 Aminu Imam

xr:d:DAF9aGPYea8:148,j:8210482120413823525,t:24022712

The Naira continued its slump against the American dollar for the seventh consecutive day on Friday, at both the official and parallel windows. ?According to data sourced from the Nigerian Autonomous Foreign Exchange Market (NAFEM) window, the domestic currency traded at N1,399.23/$1 and N1,430/$1 respectively. At the end of trading on Friday, the naira lost N89.35 against the dollar when compared to the previous exchange rate of N1,309.88/$1 on Thursday. The intra-day high and low recorded during the day were N1,410/$1 and N1,051 /$1 respectively, representing a wide spread of…

Naira sells below 1,280/$ at official, parallel markets

April 4, 2024April 4, 2024 Aminu Imam

The nation’s currency, Naira began the new month on a bullish note, appreciating to N1,278.58 against the United States dollar from N1,309.39 per dollar recorded last week Thursday. This indicates an increase of N30.81 at the close of trading activity. According to data from FMDQ Securities, the indicative exchange rate for the Nigerian Autonomous Foreign Exchange Market (AFEM), closing below the N1,300 ceiling marks the first instance since January 26 of this year. Recall that the Naira depreciated to as low as N1,615/$1 on March 13, 2024. Since the introduction…

US Dollar falls to N1,280 on black market on CBN policies

March 29, 2024March 29, 2024 Aminu Imam

The naira has continued to appreciate as the US dollar is currently selling at N1,280 on the parallel market, following the recent foreign exchange (FX) policy measures of the Central Bank of Nigeria, (CBN). With the current rate, the Naira has gained 2.34 percent of its value against the dollar in less than one day, from N1,310 the closing rate for Wednesday. When compared to the level on February 20, 2024, the naira has gained 42.58 percent of its value against the dollar from the lowest of N1,825/$ on the…

Naira regains strength, now N435/$1

September 3, 2020September 3, 2020 Ishaku Yohanna

With the expected commencement of sales of dollars to bureau de change operators by the Central Bank of Nigeria, the naira now sells between N440 and N435 to $1. Notably, the naira which had been on a downward spiral since the government gave indications of commencement of international travels and full reopening of the economy, depreciated to as low as N490 before settling around N477 last week. On Monday, black market traders had refused to show quotes as panic set in with the expected commencement of dollar sales to BDCs.…

Naira strengthens against dollar ahead of CBN FX sales to BDCs

August 31, 2020August 31, 2020 Ishaku Yohanna

The naira has strengthened at the parallel market to N448 against the dollar after the Central Bank of Nigeria (CBN) announced that it would resume dollar sales to bureau de change operators. Before the announcement, the naira had been trading as low as N480 against the dollar. Upon resumption, the apex bank said BDCs must not exchange the naira at more than N386/$ to end-users. The CBN said its decision to resume FX sales to BDCs is to enhance accessibility to forex �particularly to travellers� since the resumption date for…

Naira weakens marginally to Dollar

July 25, 2020July 25, 2020 Ishaku Yohanna

The Naira on Friday weakened marginally against the dollar at both the parallel market in Lagos and the investor�s window. The Nigerian currency traded at N472.5 to the dollar at the parallel market, down by 0.5 points from N472 exchanged on Thursday. The Pound Sterling and the Euro closed at N582 and N530, respectively. The Naira closed at N389.50 to the dollar at the investor�s window, down by 1.50 points from N388 it traded on Thursday. Market turnover at the investor�s window stood at 12.61 million dollars. It, however, closed…