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Nigeria’s embattled currency is enjoying a rare moment of relative calm against the greenback. The naira opened trading today at N1,363 per US dollar in the official Nigerian Foreign Exchange Market. Parallel market dealers are asking for roughly N1,400 for the same dollar notes. This narrow gap between the two markets points to a temporary…
Nigeria’s gross external reserves climbed to a major high of $51 billion, expanding the state’s financial firepower to defend the local currency. Data published by the Central Bank of Nigeria shows a massive $13.3 billion accretion over the past 12 months. This substantial fiscal cushion marks a complete turnaround from the severe depletion recorded during…
The Nigerian naira opened trading today, holding firm within its familiar N1,360 threshold at the official foreign exchange window. Latest transactional data shows the local currency hovering around N1,360.50 per US dollar at the official Nigerian Foreign Exchange Market. The parallel market mirrors this relative calm, with street traders quoting buying and selling rates between…
The Nigerian naira opened the week with relative stability against the United States dollar on Monday across both the official and parallel foreign exchange windows. Financial sector data showed the domestic currency trading at an average of 1,360.71 naira per dollar at the official foreign exchange market. This current baseline represents a minimal, steady movement…
The Central Bank of Nigeria has abolished pandemic-era restrictions on personal domiciliary accounts following a notable improvement in foreign exchange liquidity. Under the new directive, individual account holders can now deposit and withdraw foreign currency freely without the rigid caps imposed during the global health crisis. The policy reversal signals growing confidence within the apex…
The Nigerian naira appreciated slightly against the United States dollar on Monday morning to open the trading week on a positive note. Data from the official foreign exchange market showed the local currency strengthened to 1,370.98 naira per dollar. This subtle gain marks a recovery from the sharper swings observed late last month. Local currency…
The Nigerian Naira maintained relative stability against the United States Dollar during early morning trading across both official and parallel markets. Financial market data on Tuesday showed the local currency trading near N1,370.94 per dollar at the official window. Bureau de Change operators in Lagos and Abuja reported similar tight trading spreads, indicating a temporary…
The naira opened the second quarter with quiet resilience, trading at ₦1,385.27 against the dollar on Wednesday. This stability marks a departure from the frantic devaluations that once defined the Nigerian Foreign Exchange Market. Traders report a steady flow of greenbacks from autonomous sources, suggesting that private supply is finally meeting local needs. The market…
The Nigerian Naira maintained a stable trajectory against the US Dollar during early trading on Wednesday, March 11, 2026. Data from the Nigerian Foreign Exchange Market (NFEM) and parallel channels show the local currency has successfully resisted pressure from corporate demand. The Naira opened the day at ₦1,397.00 and, by mid-morning, was quoted at approximately…
