Tag: #ForexMarket
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NAIRA BOUNCES BACK: OFFICIAL RATE HITS N1,401/$1
The naira gained ground on Tuesday, trading at N1,401.40 to the dollar at the official market, according to CBN data — up N4.22 from Monday. Analysts said the 0.3% rebound reflects improved demand-supply dynamics and intervention by monetary authorities, offering a brief respite after a two-week slide. A currency trader noted, “The naira showed mild…
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NAIRA ENDS WEEK STRONGER, GAINS AGAINST DOLLAR
CBN reforms boost confidence as local currency posts steady week-long rally The naira wrapped up the week on a positive note, appreciating further against the U.S. dollar at the official market to close at ₦1,386.55/$1 on Friday. Data from the Central Bank of Nigeria (CBN) show the currency gained ₦10.43, a 0.7% improvement from Thursday’s…
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NAIRA APPRECIATES TO ₦1,452.79 AGAINST THE DOLLAR AS ECONOMIC CONFIDENCE GROWS
The Nigerian Naira continued its positive run on Monday, appreciating by ₦5.16 to trade at ₦1,452.79 to the dollar at the official foreign exchange market, according to the Central Bank of Nigeria (CBN). This marks a 0.35% gain from Friday’s rate of ₦1,457.95, extending the weeklong upward trend. The Association of Bureau De Change Operators…
