Currency - Page 38

Stay informed with the latest updates on Naira, Dollar, Pounds, and global currency exchange rates. Prime Business Africa provides real-time forex news, market trends, and expert analysis crucial for businesses and individuals dealing with foreign currencies. Understand the impact of fluctuating exchange rates on the economy and make informed financial decisions.

Business·Currency

Official Dollar Rate Surpasses N800, USD, Pound, Euro Prices Rise In Black Market

FMDQ Exchange, the official market aggregator, reported the naira to dollar exchange rate closed at N782.49/$1 on Wednesday. The United States Dollar was sold at a lower rate compared to the N788.42/$1

Fakoyejo Olalekan

2 years ago

Breaking: CBN Raises Interest Rate To 18.75%

Business·Currency

Banks Are Formalising Black Market Operations, BDC Chief Says, Laments Exclusion

The President of the Association of Bureau De Change Operators of Nigeria (ABCON), Aminu Gwadabe, said banks are now formalising the black market. Gwadabe stated that while banks are formalising parallel market

Fakoyejo Olalekan

2 years ago

Forex Market Turnover Rises By 42.69% To $14.39bn

Business·Currency

Forex Transactions Fall, As Dollar, Euro And Pound Cost Buyers More

Investors and exporters traded $68.10 million in foreign exchange on Tuesday, dropping the value of transactions by 30.28 per cent. This represents a shortfall of $29.59 million, as foreign exchange traders recorded

Fakoyejo Olalekan

2 years ago

CBN Releases Another Around Of $10,000 FX To Each BDC, Mandates Them To Sell At N1,117/$1

Business·Currency

Dollar Rate Drops In Official Channel, USD, Pound, Euro Rates Increase in Black Market

The authorised dealers sold the dollar at a reduced rate on Monday, 10 July, as buyers parted with N744.07/$1 at the end of trading in the official market. In a report released

Fakoyejo Olalekan

2 years ago

Business·Currency

Capital Importation To Nigeria Hits $1.13bn In Q1, UK Leads Origin Of Investments

Nigeria’s total capital importation was $1.13 billion in the first quarter (Q1) of 2023, with the United Kingdom, United Arab Emirates, United States, South Africa and Singapore leading investments into the country.

Fakoyejo Olalekan

2 years ago

Naira Records First Major Depreciation At Official Market In 2025

Business·Currency

Official Dollar Rate Surpasses Black Market Price, One Pound Hits N1002

In the official market on Friday, the dollar rate was increased by N14.27 kobo by the authorised dealers, while the naira depreciated by 1.87 per cent. This led to their clients buying

Fakoyejo Olalekan

2 years ago

Naira Appreciates At Official Market As Dollar Supply Rises On Friday

Business·Currency

Official Market Dollar Sold At N762/$1, Euro, Pound Fluctuate In Black Market

In the investors’ and exporters’ window of the official market, the United States Dollar (USD) was sold at N762.63/$1 on Thursday, 6 July. The FMDQ Exchange, the official foreign exchange rate aggregator,

Fakoyejo Olalekan

2 years ago

Business·Currency

Dollar Rate Down N26 In Official Market, Black Market Price Rises

The cost of the United States Dollar (USD) in the official market was reduced by N26.13 kobo on Wednesday, June 5, FMDQ Exchange reports. As stated by the official market foreign exchange

Fakoyejo Olalekan

2 years ago

Business·Currency

Black Market Dollar Rate Slightly Surpasses Official Window Price

On Tuesday, the dollar cost more in the black market than in the official market, according to aggregators of both foreign exchange channels. In the Bureau De Change window of the black

Fakoyejo Olalekan

2 years ago

Naira Gains More As Exchange Rate Drops To N1,300/$1 At Official Market

Business·Currency·Insights

Will Tinubu’s Foreign Exchange Policy Reform End Black Market Activities?

As of March 2023, Nigeria was one of 24 countries with multiple foreign exchange markets, housing the official and black markets, both of which have a premium gap. The countries with active

Fakoyejo Olalekan

2 years ago

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Currency - Page 38

Official Dollar Rate Surpasses N800, USD, Pound, Euro Prices Rise In Black Market

Banks Are Formalising Black Market Operations, BDC Chief Says, Laments Exclusion

Forex Transactions Fall, As Dollar, Euro And Pound Cost Buyers More

Dollar Rate Drops In Official Channel, USD, Pound, Euro Rates Increase in Black Market

Capital Importation To Nigeria Hits $1.13bn In Q1, UK Leads Origin Of Investments

Official Dollar Rate Surpasses Black Market Price, One Pound Hits N1002

Official Market Dollar Sold At N762/$1, Euro, Pound Fluctuate In Black Market

Dollar Rate Down N26 In Official Market, Black Market Price Rises

Black Market Dollar Rate Slightly Surpasses Official Window Price

Will Tinubu’s Foreign Exchange Policy Reform End Black Market Activities?

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