FX Rates

Naira Drops To N1606 Per Dollar, Lowest In 3 Weeks At Official Market

FX Turnover Plummets 76% In Nigerian Market Amidst Holiday, Economic Volatility

The foreign exchange (FX) turnover on Nigeria’s official market experienced a dramatic drop of 75.98%, hitting a three-week low on Thursday. The turnover fell from $385.91 million at the end of Tuesday’s

Emmanuel Ochayi

5 months ago

Business·Latest News·Markets

Just In: CBN Resumes Fx Sale To BDCs At N1,021/$1

The Central Bank of Nigeria (CBN) has reestablished the sale of foreign exchange (forex) to Bureau De Change (BDC) operators. The apex bank is presently offering forex to them at an exchange

Emmanuel Ochayi

6 months ago

CPPE Highlights Why Nigerian Govt Should Review Customs FX Rate For Cargo Clearance

Business·Latest News·Markets

CBN Exchange Rate Intervention Spurs Importers’ Relief Amid Customs FX Rate Decline T0 N1,238/$1

Importers in Nigeria have found a silver lining in the dip in the FX rate used by the Nigeria Customs Service (NCS) for clearance of goods. The rate, which dropped from N1,246.66/$

Emmanuel Ochayi

7 months ago

Customs FX Rate For Import Duties Higher than Official Rate, Rises To N1,330/$1

Business·Latest News·Markets

Customs Pegs FX Rate For Import Duty At N1,330/$1, Higher than Official Rate

The Nigerian naira is flexing its muscle against the U.S. dollar, prompting revisions in customs import duty FX rates. Yesterday, the customs exchange rate for cargo clearance peaked at N1,330.36 per USD,

Emmanuel Ochayi

7 months ago

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FX Turnover Plummets 76% In Nigerian Market Amidst Holiday, Economic Volatility

Just In: CBN Resumes Fx Sale To BDCs At N1,021/$1

CBN Exchange Rate Intervention Spurs Importers’ Relief Amid Customs FX Rate Decline T0 N1,238/$1

Customs Pegs FX Rate For Import Duty At N1,330/$1, Higher than Official Rate

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