The Nigerian currency, the naira, shed N18 against the United States dollar at the official market on Thursday. Data from the Central Bank of Nigeria (CBN) Foreign exchange showed that the naira traded N1, 629.93/$1 as against the N1, 611.55/$1 recorded on Wednesday. This represents a loss of N18.38 for the local currency. On the…
The Nigerian currency, the naira, depreciated against the American dollar at the black market on Wednesday, April 9, 2025. This is even as there is no official rates from the Central Bank of Nigeria (CBN) Foreign exchange data several hours after the market closed. On the black market, the naira fell to N1,620/$1 as against…
The Nigerian equities market rebounded from last week’s massive loss as investors gained N794 billion on the trading floor of the Nigerian Xchange (NGX). Ripples Nigeria reports that investors recorded a loss of N1.452 trillion the previous week. However, this week, the bourse rebounded, and recorded gains in three of the five trading days. The…
The Nigerian currency, the naira, continued to react negatively to the assumption of office of Donald Trump as the 47th President of the United States by depreciating marginally against the dollar at both the official window and parallel market on Tuesday, January 21, 2025. FMDQ data showed that the naira depreciated to N1,552.78/$1 on Tuesday,…
Lagos, Nigeria – The naira commenced the new year trading at relatively stable rates across various foreign exchange (FX) markets, reflecting a mixed but steady performance as observed on Thursday. At the official market, also known as the Nigerian Foreign Exchange Market (NFEM), the naira opened at N1,538.50 to the dollar, according to data from…
By Ken Ibenne The unofficial market saw the naira hold above the N1200/$ band, which caused the Nigerian currency to halt its weekly winning streak vs the US dollar. The naira’s runaway rise since late March, which had made it the world’s best-performing currency, ended on Sunday when it had its first weekly fall on…
As the Nigerian Naira continues to strengthen against foreign currencies like the United States Dollar (USD), Great Britain Pound (GBP), European Euro (EUR), Canadian Dollar (CAD), Australian Dollar (AUD) and several others, CONVERSEER gathered that the local currency is performing better at the Black Market also known as the Bureau De Change (BDC) than the…
By Frank Ulom The Nigerian Naira exchange rate for today, Monday, 19 February 2024 is quite on the high as Converseer brings to you the official (CBN) and I&E and Black Market (BDC) exchange rates for United States Dollar (USD), Great Britain Pound (GBP), Euro (EUR), Canadian Dollar (CAD), Australian Dollar (AUD), South African Rand…
By Frank Ulom Today, Saturday 17 February 2024, Converseer brings to you the official (CBN) and I&E and Black Market (BDC) exchange rate for United States Dollar (USD), Great Britain Pound (GBP), Euro (EUR), Canadian Dollar (CAD), Australian Dollar (AUD), South African Rand (ZAR), UAE Dirham (AED), Chinese Yuan (CNY), Japanese Yen (JPY), Swiss Franc…
By Frank Ulom Barely five days to the deadline for Nigerians to return the old NGN200, NGN500 and NGN1,000 notes to commercial banks, residents of rural communities in Central and Northern Cross River State have lamented the lack of the new notes, accusing banks of hoarding the currency. Recall that the Central Bank of Nigeria…