Tag: #ForexMarket
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CHINA’S YUAN GAINS SLIGHTLY AGAINST U.S. DOLLAR
China’s currency, the Yuan, strengthened slightly against the U.S. dollar on Monday, according to the China Foreign Exchange Trade System. The central parity rate rose by 35 pips to 6.8467 per dollar ahead of trading activities in the interbank foreign exchange market. China’s forex system said the daily rate is determined using a weighted average…
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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…
