Business

Naira closes N498/$ at parallel market

Ihesiulo Grace 3 June 2021 0

By Motolani Oseni The Naira at the parallel market traded flat at N498 and N700 against the Dollar and Pound Sterling respectively on Wednesday. The local currency thus lost 0.17 per cent against the Euro to close at N598. Trading at the parallel market on Tuesday revealed that Naira lost by

Business

CBN’s message to parallel market patronizers

Ihesiulo Grace 26 May 2020 0

Emefiele has warned domestic and foreign investors against patronising the unofficial market, saying it was helping to overheat that market. Dollar sales have since resumed following a phased easing of the lockdown but foreign investor currency demand is yet to be met, analysts say. Emefiele, has warned firms and individuals against patronizing the parallel market, […]

Business

Naira drops against Pound, Euro unofficial FX market

Ihesiulo Grace 30 January 2018 0

…As CBN lifts forex market with fresh liquidity The Naira, on Monday settled low against the Pound sterling and Euro at N510 and 446, respectively , compared to N505 and N445 exchanged over the weekend at the unofficial forex market. This is even as the Central Bank of Nigeria (CBN) yesterday injected fresh foreign exchange […]

Business

How BDC operators dump CBN’s window for parallel market

Ihesiulo Grace 10 January 2018 0

New facts have emerged on how the Bureaux De Change Operators in Nigeria are currently shunning the Central Bank of Nigeria’s (CBN’s) Foreign exchange (forex) market for a more profitable parallel market rate, findings by The Daily Times have revealed. Before now, Association of Bureaux De Change Operators of Nigeria (ABCON) has several times, called […]

Money

Naira strengthens at official forex market, flat at parallel segment

Ihesiulo Grace 2 January 2018 0

Following the appreciable closing rate of Naira at 306 per dollar on the last trading day in 2017, the Nigeria’s currency on Tuesday, first official foreign exchange trading activities in 2018, extended gaining streak to close at 305.50 per dollar, Central Bank of Nigeria (CBN) data has revealed. As at close of yesterday trading activities, […]

Money

Naira gains at official forex market as NAFEX records $209m turnover

Ihesiulo Grace 11 December 2017 0

The Nigerian currency, Naira on Monday, gained further at the official foreign exchange market, with the new closing rate of 306.35 compared to 306.40 to the US Dollar sold on Friday. Even as the Nigerian Autonomous Foreign Exchange (NAFEX) window closed the day with a total transactions turnover of $209.05 million. Contrary to this development, […]

Money

Naira rebounds at official FX, extends gains over Euro at parallel market

Ihesiulo Grace 7 December 2017 0

….As NAFEX records $195.6m transactions turnover Following the dropped of the Naira to N307 per US Dollar on Monday for the first time ever at the official foreign exchange, the Nigeria’s local currency, rebounded slightly to close at 306.85, as at close of yesterday trading activities, while the local currency extended its gaining streak against […]

Money

Naira gains at parallel market, drops further at official FX

Ihesiulo Grace 5 December 2017 0

The Nigerian currency, Naira, on Monday rebounded against the US Dollar at the parallel market to settled at 363 compared to 364 sold throughout last week, however, dropped further at the official foreign exchange market to close at 307 per dollar weaker than 305 exchanged in the recent time, data obtained by the Daily Times […]

Money

Naira loses at parallel market as capital inflows hit $4.2bn in Q3

Ihesiulo Grace 28 November 2017 0

The Naira, on the second trading day of the week suffered a significant setback at the parallel market segment of the foreign exchange market, with closing rates of Pound sterling and the Euro at 480 against 475 traded on Monday and 430 to the Euro, compared to 425 exchanged the same period. This is just […]

Business

Naira gains at official FX, drop at parallel market

Ihesiulo Grace 17 November 2017 0

.As I&E FX window trades $299.50m The Naira, on Thursday, rebounded to record an appreciable gain at the close of trading at the official foreign exchange market, even though it was a different case at the parallel segment, as the local currency dropped against all the three major foreign currencies, Daily Times check has revealed. […]

Business

Naira extends gain at parallel market, strengthened at NAFEX

Ihesiulo Grace 31 August 2017 0

After trading between 368 and 370 for over a week, the Nigerian currency, Naira, on Wednesday, extended gains recorded at the parallel market, while it strengthened at the Nigeria Autonomous Foreign Exchange Fixing (NAFEX) window. At the close of yesterday’s trading activities, the naira, at the unofficial market, appreciated by two points to close at […]

Money

Naira falls to 368/$1 at parallel market, drop at interbank

Ihesiulo Grace 15 August 2017 0

.Appreciates by 0.062% at I&E FX window The naira, on Monday fell further to close at 368 per US dollar, indicating a drop of total three points from a depreciated rate of N365 traded last Monday at the parallel market. The Nigerian currency, however, recorded appreciable points of N2.28 at the Investors and Exporters window, […]

Business Money

Naira relapses to 366/$1 at parallel market

Ihesiulo Grace 11 August 2017 0

.Records low turnover of $53.13m at I&E FX window After sustaining gained points for two days, the Nigerian currency, Naira on Thursday relapsed to 366 per US dollar, against 365 sold on Tuesday and Wednesday at the parallel market. The naira, at the end of yesterday market activities on the Investor & Exporter FX widow, […]

News

Naira strengthens to 367/$1, drops against Pound at parallel market

Ihesiulo Grace 14 July 2017 0

The Naira on Thursday rebounded to close at 367 per US Dollar against 368 traded on Wednesday, but exchanged at a depreciated rate of 419 or 420 against the Pound Sterling at the parallel market. The Nigerian currency however, remained stable at the Central Bank of Nigeria (CBN) official rate, which had traded at 305.95 […]

Capital Market Capital Market

Experts delve on import of currency devaluation on ICT Industry, others

Ihesiulo Grace 12 July 2017 0

With the recent Central Bank of Nigeria (CBN) move with the Naira against the dollar, some experts said it been liberalized in the market and that has caused significant increase in confidence even as international potential clients that they were coming but held back have re-engaged to that wind of change to boost local content. […]

Money

Naira drops as forex market boosted by $195m

Ihesiulo Grace 5 July 2017 0

The Naira, on Tuesday relapsed slightly against the US dollar, to close at 366 against 365 sold on the first trading day of the week (Monday), which represented a total four points’ gain, compared to the 369 exchanged last Friday. This is just as the Central Bank of Nigeria (CBN) boosted the foreign exchange market […]

Business

Naira settles at 390/$1 as multiple FX rates eliminate frivolous demand

Ihesiulo Grace 28 April 2017 0

CBN offers $100m in wholesale forwards The nation’s currency, the naira on Thursday settled at 390, a slight depreciated rate against the 388 traded per dollar on Wednesday at the parallel market. This is just as the Central Bank of Nigeria (CBN) said that multiple exchange rate has eliminated “frivolous demand” of foreign currency, while […]

Business

Naira steady 410/$1 at parallel market

Ihesiulo Grace 13 April 2017 0

The Nigerian currency, the naira on Wednesday closed at 410 to a dollar, the same rate it traded the previous day, which indicated a drop of five points from 405 it exchanged on the first trading day of the week at the parallel market. This was contrary to the widely expected new closing rate for […]

Business

How forex convergence rate may phase-out 3200 BDCs

Ihesiulo Grace 24 March 2017 0

Following the dramatic and continuous gain of the naira at the black market, with a new closing of the local currency at 399 per dollar at both the Bureau de Change segment and the parallel market on Thursday, indications are rife that no less than 3200 BDCs and over 30, 000 Nigerians may lose their […]

Business

Forex: Dealers expect rebound, as CBN takes appreciation credit

Ihesiulo Grace 6 March 2017 0

The Nigerian currency, the Naira on Friday relapsed from days of significant appreciation against the dollar at the parallel market, but foreign exchange dealers are optimistic that it would rebound positively this week, as the Central Bank of Nigeria (CBN) indicated it will regularly intervene in the market in continuation of its strategy to further […]