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Breaking: CBN Raises Interest Rate To 18.75%

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

1 year ago

Business·Currency

Investors, Exporters Buy Dollars At Lower Rate, As Naira Value Rises

In the official market on Thursday, 19 May, traders saw the foreign exchange (Forex) rate between the Naira and the Dollar end at N463/$1. This contrasted with the N465.13/$1 both currencies traded

Fakoyejo Olalekan

2 years ago

Business·Currency

Investors, Exporters Buy Dollar At N462.25, USD Crunch Affect Forex Supply

Traders in the official market exchanged the Naira for Dollar at N462.25 kobo/$1 at the end of the session on Tuesday, 10 May. Although during trading, investors and exporters exchanged the United

Fakoyejo Olalekan

2 years ago

Naira Appreciates To N869/$1 As Experts Debate Stability

Business·Currency

Dollar Weakens As Tinubu Eyes New Exchange Rate For Traders, Investors

The Dollar shed some value to the Naira on Thursday, 4 May, resulting in the Nigerian currency rising by 0.02 per cent, while the cost of the greenback dropped by N0.12 kobo.

Fakoyejo Olalekan

2 years ago

Naira Depreciates To N1,542 Per Dollar At Official Market

Business·Currency

Black Market’s Dollar Rate Now N288 Higher Than CBN-backed Official Rate

The exchange rate between the naira and the dollar sold at an average of N750/$1 on Wednesday, 25 January 2023, in the black market. In the black market, operated by the Bureau

Fakoyejo Olalekan

2 years ago

Business·Currency

Dollar Rate Rises By N100 In Black Market, As Naira Ends Gain

The naira couldn’t hold on to the gains of last week, as the dollar rate increased by N100 in the black market, representing -17.6 per cent decline in the value of the

Fakoyejo Olalekan

2 years ago

Business·Currency

Dollar To Naira Exchange Rate: Traders Increase Dollar Price In Official Market, BDC Operators Drop Theirs

September 27, 2022 Dollar Rates Update: The Naira fell in the official foreign exchange market, Investors and Exporters window, on Tuesday, by -0.07%, as traders increased their asking price to sell a

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 To Naira Exchange Rate: Cost Of Dollar Drops In Official Market, Hits N712 In Black Market

September 21, 2022 Dollar Rates Update: The United States’ dollar appreciated against the naira on Wednesday, after traders on the Investors and Exporters (I&E) window of the foreign exchange market increased the

Fakoyejo Olalekan

2 years ago

Business·Currency

Dollar To Naira Exchange Rate: Dollar Falls In Black Market, Sells At N436.50 In Official Market

September 12, 2022 Dollar Rates Update: The Naira continued its depreciation run on Monday at the Investors and Exporters window, with traders selling $1 at N436.50, in contrast to the N436.33 it

Fakoyejo Olalekan

2 years ago

Business·Currency

Dollar To Naira Exchange Rate: Traders Increase Cost Of Dollar, As CBN’s Intervention Fails To Boost Naira

September 9, 2022 Dollar Rates Update: High demand for dollar and lack of it has seen traders increase the price of the United States currency in the foreign exchange segment of the

Fakoyejo Olalekan

2 years ago

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

Investors, Exporters Buy Dollars At Lower Rate, As Naira Value Rises

Investors, Exporters Buy Dollar At N462.25, USD Crunch Affect Forex Supply

Dollar Weakens As Tinubu Eyes New Exchange Rate For Traders, Investors

Black Market’s Dollar Rate Now N288 Higher Than CBN-backed Official Rate

Dollar Rate Rises By N100 In Black Market, As Naira Ends Gain

Dollar To Naira Exchange Rate: Traders Increase Dollar Price In Official Market, BDC Operators Drop Theirs

Dollar To Naira Exchange Rate: Cost Of Dollar Drops In Official Market, Hits N712 In Black Market

Dollar To Naira Exchange Rate: Dollar Falls In Black Market, Sells At N436.50 In Official Market

Dollar To Naira Exchange Rate: Traders Increase Cost Of Dollar, As CBN’s Intervention Fails To Boost Naira

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