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The naira traded within a familiar, narrow band against the United States dollar on Wednesday, holding its recent run of relative calm in both the official and street markets even as retail demand kept the parallel rate above the ₦1,400 mark. Figures from the Central Bank of Nigeria’s Nigerian Foreign Exchange Market, NFEM, placed…
The naira closed out July on a stable footing against the United States dollar, extending a run of calm that has defined Nigeria’s foreign exchange market through much of 2026 and narrowing the long standing gap between official and street rates. At the official Nigerian Foreign Exchange Market (NFEM), the dollar traded around ₦1,360…
Nigeria’s daily petrol imports surged by 207 per cent in June, reversing months of steady progress toward domestic energy self-sufficiency. Fresh data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority reveals that daily foreign fuel receipts jumped to 18.1 million litres, up from 5.9 million litres in May. The massive influx of offshore fuel…
The United States dollar retreated against major currencies on Tuesday after a sharper than expected slowdown in American inflation weakened the case for a Federal Reserve interest rate increase this month, even as a fresh flare up between Washington and Tehran over the Strait of Hormuz kept crude oil prices elevated and markets…
The Nigerian naira lost more ground in the parallel market on Monday, sliding to N1,420 against the United States dollar from N1,406 recorded at the close of last week, even as the currency held its footing in the official window. The divergence has quietly reopened a gap that policymakers spent much of the first…
The naira turned in a mixed showing against the United States dollar on Tuesday, July 7, 2026, steady at the official window even as it lost a little ground on the streets, a pattern that has come to define the currency’s day to day movement in recent months. At the official Nigerian Foreign Exchange…
The naira opened the week on solid footing, trading at around ₦1,363.41 to the United States dollar at the official window on Monday, June 22, 2026, as the gap between the formal and street markets stayed unusually slim. The figure, drawn from the Nigerian Foreign Exchange Market, reflects the volume-weighted average that the Central…
The naira weakened to N1,410 against the United States dollar in the parallel market on Thursday, easing from N1,405 a day earlier, as renewed demand pressure pushed the currency lower across both segments of Nigeria’s foreign exchange market. At the official window, the currency also lost ground. Data from the Central Bank of Nigeria…
The Nigerian naira maintained a stable trajectory against the United States dollar across both official and parallel foreign exchange markets this morning. Data from the Nigerian Foreign Exchange Market showed the local currency trading at an official rate of 1,372.84 naira per dollar. This figure represents a minor adjustment from the 1,372.64 naira recorded at…
Nigeria’s currency posted a marginal gain against the US dollar at the official window, supported by a sharp rise in foreign exchange turnover and improved liquidity conditions, according to latest market data. Figures released by the Central Bank of Nigeria show the naira appreciated by 0.09 per cent to close at N1,379.46 per dollar,…
