Currencies Archives - Nairametrics https://nairametrics.com/category/market-news/naira-dollar-exchange-rate/ Destination for Business news and analysis from Africa's largest economy Sun, 18 Aug 2024 10:02:46 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 https://nairametrics.com/wp-content/uploads/2021/08/cropped-cropped-favicon-1.png?resize=75,75 Currencies Archives - Nairametrics https://nairametrics.com/category/market-news/naira-dollar-exchange-rate/ 32 32 201037849 Forex reserves drop by $342.97 million, first time in four months  https://nairametrics.com/2024/08/18/forex-reserves-drop-by-342-97-million-first-time-in-four-months/ https://nairametrics.com/2024/08/18/forex-reserves-drop-by-342-97-million-first-time-in-four-months/#respond Sun, 18 Aug 2024 09:25:59 +0000 https://nairametrics.com/?p=496042 Nigeria's external reserves have dipped by approximately $342.97 million over a period of nine days. 

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]]> https://nairametrics.com/2024/08/18/forex-reserves-drop-by-342-97-million-first-time-in-four-months/feed/ 0 496042 Nigeria to issue $500 million domestic dollar bond on Monday   https://nairametrics.com/2024/08/15/nigeria-to-issue-500-million-domestic-dollar-bond-on-monday/ https://nairametrics.com/2024/08/15/nigeria-to-issue-500-million-domestic-dollar-bond-on-monday/#respond Thu, 15 Aug 2024 11:53:39 +0000 https://nairametrics.com/?p=495857 The Federal Government of Nigeria plans to issue its dollar-denominated domestic bond next week Monday, as it hopes to raise $500 million from local and foreign investors.  

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]]> https://nairametrics.com/2024/08/15/nigeria-to-issue-500-million-domestic-dollar-bond-on-monday/feed/ 0 495857 Nine firms purchase $25.76 million from CBN’s retail Dutch auction to repay loans  https://nairametrics.com/2024/08/12/nine-firms-purchase-25-76-million-from-cbns-retail-dutch-auction-to-repay-loans/ https://nairametrics.com/2024/08/12/nine-firms-purchase-25-76-million-from-cbns-retail-dutch-auction-to-repay-loans/#respond Mon, 12 Aug 2024 18:27:53 +0000 https://nairametrics.com/?p=495663 The Central Bank of Nigeria (CBN) conducted a Retail Dutch Auction on August 6, 2024, where nine companies purchased a combined total of $25.76 million to meet their loan repayment obligations.  

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]]> https://nairametrics.com/2024/08/12/nine-firms-purchase-25-76-million-from-cbns-retail-dutch-auction-to-repay-loans/feed/ 0 495663 Dangote Group purchases $105.33 million from latest CBN’s Retail Dutch Auction  https://nairametrics.com/2024/08/10/dangote-group-purchases-105-33-million-from-latest-cbns-retail-dutch-auction/ https://nairametrics.com/2024/08/10/dangote-group-purchases-105-33-million-from-latest-cbns-retail-dutch-auction/#respond Sat, 10 Aug 2024 14:05:20 +0000 https://nairametrics.com/?p=495562 Dangote Group’s subsidiaries have emerged as major recipients in the latest Retail Dutch Auction conducted by the Central Bank of Nigeria (CBN), purchasing at least $105.33 million in successful foreign exchange (FX) bids. 

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]]> https://nairametrics.com/2024/08/10/dangote-group-purchases-105-33-million-from-latest-cbns-retail-dutch-auction/feed/ 0 495562 Naira shows strength, faces uphill task at N1,500 resistance line  https://nairametrics.com/2024/08/10/naira-shows-strength-faces-uphill-task-at-n1500-resistance-line/ https://nairametrics.com/2024/08/10/naira-shows-strength-faces-uphill-task-at-n1500-resistance-line/#respond Sat, 10 Aug 2024 09:34:05 +0000 https://nairametrics.com/?p=495552 The Naira strengthened against the dollar on Friday, trading at N1,585/$ from N1,590/$ posted on Thursday in the parallel market.  On the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira strengthened to N1,574 against the greenback yesterday. FMDQ data revealed that the NAFEM’s indicative exchange rate decreased to N1,574.2 per dollar on Thursday from N1,593.62/$, […]

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]]> https://nairametrics.com/2024/08/10/naira-shows-strength-faces-uphill-task-at-n1500-resistance-line/feed/ 0 495552 Top 10 Banks that got highest FX from CBN’s latest Retail Dutch Auction  https://nairametrics.com/2024/08/10/top-10-banks-that-got-highest-fx-from-cbns-latest-retail-dutch-auction/ https://nairametrics.com/2024/08/10/top-10-banks-that-got-highest-fx-from-cbns-latest-retail-dutch-auction/#respond Sat, 10 Aug 2024 09:26:54 +0000 https://nairametrics.com/?p=495553 The Central Bank of Nigeria (CBN) recently conducted a Retail Dutch Auction System (rDAS) on August 6, 2024, in an effort to mitigate the rising demand pressures in the foreign exchange (FX) market and to promote price discovery. 

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]]> https://nairametrics.com/2024/08/10/top-10-banks-that-got-highest-fx-from-cbns-latest-retail-dutch-auction/feed/ 0 495553 List of banks excluded from CBN’s retail Dutch Auction  https://nairametrics.com/2024/08/10/list-of-banks-excluded-from-cbns-retail-dutch-auction/ https://nairametrics.com/2024/08/10/list-of-banks-excluded-from-cbns-retail-dutch-auction/#respond Sat, 10 Aug 2024 08:56:36 +0000 https://nairametrics.com/?p=495547 Six prominent banks, including United Bank for Africa (UBA), Wema Bank, and Stanbic IBTC, were disqualified from participating in a recent retail Dutch Auction conducted by the Central Bank of Nigeria (CBN). 

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]]> https://nairametrics.com/2024/08/10/list-of-banks-excluded-from-cbns-retail-dutch-auction/feed/ 0 495547 New CBN circular clarifies existing rule on certificate of capital importation for forex repatriation, divestment  https://nairametrics.com/2024/08/09/new-cbn-circular-clarifies-existing-rule-on-certificate-of-capital-importation-for-forex-repatriation-divestment/ https://nairametrics.com/2024/08/09/new-cbn-circular-clarifies-existing-rule-on-certificate-of-capital-importation-for-forex-repatriation-divestment/#respond Fri, 09 Aug 2024 07:55:12 +0000 https://nairametrics.com/?p=495506 The Central Bank of Nigeria (CBN) has issued a clarification on the requirements for divestments and repatriation of foreign investments related to the Certificate of Capital Importation (CCI). 

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]]> https://nairametrics.com/2024/08/09/new-cbn-circular-clarifies-existing-rule-on-certificate-of-capital-importation-for-forex-repatriation-divestment/feed/ 0 495506 Nigeria records 55% increase in net FX flows to $25.4 billion in first six months of 2024  https://nairametrics.com/2024/08/08/nigeria-records-55-increase-in-net-fx-flows-to-25-4-billion-in-first-six-months-of-2024/ https://nairametrics.com/2024/08/08/nigeria-records-55-increase-in-net-fx-flows-to-25-4-billion-in-first-six-months-of-2024/#respond Thu, 08 Aug 2024 08:06:29 +0000 https://nairametrics.com/?p=495455 The Central Bank of Nigeria (CBN) has said that the results of its policy measures are becoming evident, with net foreign exchange flows rising to $25.4 billion between January and June, marking a 55% increase year-over-year. 

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]]> https://nairametrics.com/2024/08/08/nigeria-records-55-increase-in-net-fx-flows-to-25-4-billion-in-first-six-months-of-2024/feed/ 0 495455 Nigeria’s exchange rate appreciates for third consecutive day, closes at N1,596.52/$1 on Wednesday  https://nairametrics.com/2024/08/07/nigerias-exchange-rate-appreciates-for-third-consecutive-day-closes-at-n1596-52-1-on-wednesday/ https://nairametrics.com/2024/08/07/nigerias-exchange-rate-appreciates-for-third-consecutive-day-closes-at-n1596-52-1-on-wednesday/#respond Wed, 07 Aug 2024 19:20:58 +0000 https://nairametrics.com/?p=495436 The naira has appreciated again to close below N1,600/$1 on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window. 

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]]> https://nairametrics.com/2024/08/07/nigerias-exchange-rate-appreciates-for-third-consecutive-day-closes-at-n1596-52-1-on-wednesday/feed/ 0 495436 CBN sells $876.26 million at N1,495/$1 to 26 banks in latest Retail Dutch Auction  https://nairametrics.com/2024/08/07/cbn-sells-876-26-million-at-n1495-1-to-26-banks-in-latest-retail-dutch-auction/ https://nairametrics.com/2024/08/07/cbn-sells-876-26-million-at-n1495-1-to-26-banks-in-latest-retail-dutch-auction/#respond Wed, 07 Aug 2024 17:40:38 +0000 https://nairametrics.com/?p=495426 The Central Bank of Nigeria (CBN) has sold $876.26 million at N1,495/$1 to 26 qualified banks in its latest Retail Dutch Auction. 

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]]> https://nairametrics.com/2024/08/07/cbn-sells-876-26-million-at-n1495-1-to-26-banks-in-latest-retail-dutch-auction/feed/ 0 495426 FG to sell $500 million dollar-denominated bonds, targets 200% subscription  https://nairametrics.com/2024/08/07/fg-to-sell-500-million-dollar-denominated-bonds-targets-200-subscription/ https://nairametrics.com/2024/08/07/fg-to-sell-500-million-dollar-denominated-bonds-targets-200-subscription/#respond Wed, 07 Aug 2024 05:30:23 +0000 https://nairametrics.com/?p=495364 The Federal Government of Nigeria has launched its Series I Domestic USD Bond, as it hopes to raise at least $500 million from local and international investors. 

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]]> https://nairametrics.com/2024/08/07/fg-to-sell-500-million-dollar-denominated-bonds-targets-200-subscription/feed/ 0 495364 Forex turnover drops to lowest since January as naira settles above N1,600/$1 https://nairametrics.com/2024/08/06/forex-turnover-drops-to-lowest-since-january-as-naira-settles-above-n1600-1/ https://nairametrics.com/2024/08/06/forex-turnover-drops-to-lowest-since-january-as-naira-settles-above-n1600-1/#respond Tue, 06 Aug 2024 18:30:20 +0000 https://nairametrics.com/?p=495348 The forex turnover on the FMDQ, where the exchange rate trades officially, closed at a turnover of just $61.9 million, the lowest since January 2024.

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]]> https://nairametrics.com/2024/08/06/forex-turnover-drops-to-lowest-since-january-as-naira-settles-above-n1600-1/feed/ 0 495348 Forex crisis: Nigeria’s ID4D project gains N8.6 billion from Naira devaluation in 2023  https://nairametrics.com/2024/08/06/forex-crisis-nigerias-id4d-project-gains-n8-6-billion-from-naira-devaluation-in-2023/ https://nairametrics.com/2024/08/06/forex-crisis-nigerias-id4d-project-gains-n8-6-billion-from-naira-devaluation-in-2023/#respond Tue, 06 Aug 2024 06:02:10 +0000 https://nairametrics.com/?p=495282 The devaluation of the Naira resulted in a forex gain of N8.6 billion for the Nigeria Identification for Development (ID4D) project, through which international financiers led by the World Bank are pushing for the enrollment of all Nigerians for the National Identification Number (NIN).

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]]> https://nairametrics.com/2024/08/06/forex-crisis-nigerias-id4d-project-gains-n8-6-billion-from-naira-devaluation-in-2023/feed/ 0 495282 Food gulps 17% of Nigeria’s dollar spending on imports in Q1 2024  https://nairametrics.com/2024/08/05/food-gulps-17-of-nigerias-dollar-spending-on-imports-in-q1-2024/ https://nairametrics.com/2024/08/05/food-gulps-17-of-nigerias-dollar-spending-on-imports-in-q1-2024/#respond Mon, 05 Aug 2024 08:52:07 +0000 https://nairametrics.com/?p=495201 The import of food products gulped about $689.88 million in the first quarter of 2024, which is about 17% of the total foreign exchange (FX) spending on imports. 

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]]> https://nairametrics.com/2024/08/05/food-gulps-17-of-nigerias-dollar-spending-on-imports-in-q1-2024/feed/ 0 495201 Exchange rate for customs duties collection rises to N1,618/$  https://nairametrics.com/2024/08/04/exchange-rate-for-customs-duties-collection-rises-to-n1618/ https://nairametrics.com/2024/08/04/exchange-rate-for-customs-duties-collection-rises-to-n1618/#respond Sun, 04 Aug 2024 11:58:09 +0000 https://nairametrics.com/?p=495182 The exchange rate for the Nigeria Customs Service (NCS) duties collection has risen to N1618.73/$ according to the latest figure from the service’s exchange rate portal.

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]]> https://nairametrics.com/2024/08/04/exchange-rate-for-customs-duties-collection-rises-to-n1618/feed/ 0 495182 Central Bank to reintroduce auctions (rDas) to address forex shortage https://nairametrics.com/2024/08/03/central-bank-to-reintroduce-auctions-rdas-to-address-forex-shortage/ https://nairametrics.com/2024/08/03/central-bank-to-reintroduce-auctions-rdas-to-address-forex-shortage/#respond Sat, 03 Aug 2024 12:38:34 +0000 https://nairametrics.com/?p=495137 The Central Bank of Nigeria (CBN) has unveiled plans to implement a Retail Dutch Auction System (DAS) to address the mounting unmet foreign exchange (FX) demand from end users. 

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]]> https://nairametrics.com/2024/08/03/central-bank-to-reintroduce-auctions-rdas-to-address-forex-shortage/feed/ 0 495137 Nigeria’s exchange rate depreciates by 6.43% in July despite CBN’s FX sales  https://nairametrics.com/2024/08/03/nigerias-exchange-rate-depreciates-by-6-43-in-july-despite-cbns-fx-sales/ https://nairametrics.com/2024/08/03/nigerias-exchange-rate-depreciates-by-6-43-in-july-despite-cbns-fx-sales/#respond Sat, 03 Aug 2024 07:09:06 +0000 https://nairametrics.com/?p=495121 Nigeria’s exchange rate closed July 2024 at N1608.73/$1, marking a 6.43% depreciation on the official market for the month. 

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]]> https://nairametrics.com/2024/08/03/nigerias-exchange-rate-depreciates-by-6-43-in-july-despite-cbns-fx-sales/feed/ 0 495121 Nigeria’s exchange rate records best gain in two weeks, closes at N1,570/$1 on Thursday  https://nairametrics.com/2024/08/01/breaking-nigerias-exchange-rate-records-best-gain-in-two-weeks-closes-at-n1570-1-on-thursday/ https://nairametrics.com/2024/08/01/breaking-nigerias-exchange-rate-records-best-gain-in-two-weeks-closes-at-n1570-1-on-thursday/#respond Thu, 01 Aug 2024 19:40:37 +0000 https://nairametrics.com/?p=495039 The naira surged to N1,570/$1 on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window on Thursday, marking an increase of 2.47% from the previous day’s rate of N1,608.73/$1.  

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]]> https://nairametrics.com/2024/08/01/breaking-nigerias-exchange-rate-records-best-gain-in-two-weeks-closes-at-n1570-1-on-thursday/feed/ 0 495039 Nigeria’s currency in circulation exceeds N4 trillion in June 2024, first time in history  https://nairametrics.com/2024/07/31/nigerias-currency-in-circulation-exceeds-n4-trillion-in-june-2024-first-time-in-history/ https://nairametrics.com/2024/07/31/nigerias-currency-in-circulation-exceeds-n4-trillion-in-june-2024-first-time-in-history/#respond Wed, 31 Jul 2024 17:44:27 +0000 https://nairametrics.com/?p=494912 The latest data from the Central Bank of Nigeria (CBN) shows that the currency in circulation (CIC) reached a year-high of N4.05 trillion in June 2024, up by 56% from N2.6 trillion in the same month of the previous year. 

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]]> https://nairametrics.com/2024/07/31/nigerias-currency-in-circulation-exceeds-n4-trillion-in-june-2024-first-time-in-history/feed/ 0 494912