Naira trades flat at 363/dollar

The naira is expected to remain stable across its multiple exchange rates as the currency hit a resistance level for investors and the Central Bank of Nigeria continues to intervene on the official market. According to Reuters, the local unit has hit resistance at 360/dollar for investors as banks are not willing to bid the United […]

Naira rebounds, closes at 365/dollar

The naira closed at 365 per United States dollar on Friday, up from 367/dollar as dollar supply continued to improve. The local currency has been trading between 367 and 369/dollar in recent weeks. Analysts said the local unit would continue to trade between 360/dollar and 370/dollar in coming months. They, however, said that the Central […]

Naira reverses gain, closes at 370/dollar

Naira   The naira closed at 370 per United States dollar at the parallel market on Friday, reversing the modest gain it recorded on Thursday. The local unit had closed at 368/dollar on Thursday after closing at 370/dollar for most part of last week. Analysts had warned that the naira would weaken against the greenback […]

Naira closes at 365 despite CBN dollar sales

The naira closed at 365 against the United States dollar at the parallel market segment of the foreign exchange market on Monday, down from 364/dollar it closed on Friday. This was despite the sales of $462m and $195m in the interbank forex market by the Central Bank of Nigeria on Friday and Monday, respectively. In […]

Naira stable at $364/$ as CBN injects $195m

The Central Bank of Nigeria (CBN) yesterday injected $195m into the inter-bank forex market to meet the requests of customers in the various segments of the market. Meanwhile, the naira remained stable at N364 per dollar in the parallel market yesterday due to weak demand for dollar. Acting Director, Corporate Communications, CBN, Mr. Isaac Okorafor […]