Currencies Archives - Nairametrics

Nigeria, Ghana, and SA face volatility as half of African currencies show signs of depreciation – Report

Israel Ojoko — Sat, 05 Jul 2025 11:05:06 +0000

Nearly half of African currencies have shown signs of depreciation despite steady development across the continent, according to the latest edition of the Monthly Developments in the African Macroeconomic Environment report published by the African Export-Import Bank (Afreximbank) for June 2025. The report, which analyzed exchange rate dynamics for May 2025, revealed a mixed performance […]

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Naira set to break below N1,500/$ resistance

Olumide Adesina — Sat, 05 Jul 2025 08:58:49 +0000

The Nigerian currency is less than N30/$ away from breaking the key resistance level of N1500/$ in Nigeria's official market.

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IMF commendation sparks strong gains for Naira across parallel, official markets

Olalekan Adigun — Thu, 03 Jul 2025 12:02:04 +0000

The naira appreciated to N1,565 per dollar on Thursday at the parallel market, up from N1,580 per dollar on Wednesday, according to a Nairametrics market survey in Lagos.

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Naira stuck at N2,200/£ as British pound faces correction

Olumide Adesina — Thu, 03 Jul 2025 08:24:43 +0000

The naira remains in a consolidation phase against the British pound in the parallel market at N2,200/£ despite significant moderation in the British Pound at the global foreign exchange market. The Naira was muted against the British pound despite the Sterling’s correction phase amid concerns about the UK economy. The United Kingdom hosts Nigeria’s largest […]

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Naira gains big in official market as dollar sinks globally

Olumide Adesina — Wed, 02 Jul 2025 07:09:52 +0000

The Nigerian currency showed some strength in the Nigerian foreign exchange market, while the haven currency dipped to its lowest level since February 2022 in the global currency market.

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Africa must reduce dollar reliance to strengthen intra-continental trade – AfCFTA Secretary

Israel Ojoko — Thu, 26 Jun 2025 11:49:23 +0000

Secretary General of the African Continental Free Trade Area (AfCFTA) Secretariat, Wamkele Mene, has called for a significant reduction in Africa’s reliance on the US dollar in intra-continental trade, arguing that the current dependence is both inefficient and unsustainable.

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Naira breaks below N1,600/$ as U.S dollar hits 3-year low

Olumide Adesina — Thu, 26 Jun 2025 06:35:45 +0000

The Naira broke the key resistance line at the black market while the greenback sank to a 3-year low in the global foreign exchange market.

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Forex volatility: BDC operators reveal over 90% of dollar liquidity is off the books

Chike Olisah — Wed, 25 Jun 2025 06:37:38 +0000

Bureau De Change (BDC) operators have insisted that there is an extremely large amount of foreign exchange liquidity in the system that is unaccounted for.

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Naira hits N1,600/$ as Israel-Iran ceasefire and oil price drop shake Nigerian economy

Olumide Adesina — Tue, 24 Jun 2025 06:20:43 +0000

The naira traded around the N1,600/$ mark on Tuesday in the unofficial market and depreciated to N1,550/$ in the Nigerian Foreign Exchange Market (NFEM).

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Naira falls N2,200 against British Pound Sterling

Olumide Adesina — Sat, 21 Jun 2025 09:07:16 +0000

Recent price movements indicate that the Nigerian currency has remained in a consolidation phase in the unofficial market, fluctuating between N2,150 and N2,250/£/£ this month due to increased buying pressure on the British pound in Nigeria's commercial capital.

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Exchange rate disparity returns as Naira appreciates to N1,545/$ officially, depreciates to N1,605/$ on parallel market

Olalekan Adigun — Sat, 21 Jun 2025 08:31:44 +0000

The exchange rate closed the week with a mixed performance, as the naira recorded a slight appreciation in the official market but weakened on the parallel (black) market.

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BNY Mellon, Standard Bank launch naira-denominated notes for global investors

Tobi Tunji — Thu, 19 Jun 2025 16:30:05 +0000

Bank of New York Mellon Corp. (BNY Mellon), alongside Standard Bank Group Ltd., has launched global depositary notes backed by Nigerian sovereign debt denominated in naira.

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Naira strengthens below N1,600/$ at parallel market as U.S dollar sheds weight

Olumide Adesina — Wed, 18 Jun 2025 07:46:58 +0000

The naira maintained its bullish momentum at the unofficial market as it cracked below the N1600/$ resistance line, while the greenback fell in the global foreign exchange market.

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Naira, U.S dollar bow to surging British Pound Sterling

Olumide Adesina — Tue, 17 Jun 2025 08:26:03 +0000

The Nigerian currency fell to the N2135-N2150 bandwidth against a resurging British pound Sterling, which rose to a new high against the greenback.

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Naira ends week mixed: Falls to N1,554/$ at official market, gains to N1,595/$ on parallel market

Olalekan Adigun — Sat, 14 Jun 2025 10:41:59 +0000

The Naira has ended the week with mixed performances, ending the week strong in the parallel market and depreciating in the official market on Friday.

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Bonny Light nears $70 a barrel, strengthens Naira outlook

Olumide Adesina — Thu, 12 Jun 2025 07:04:46 +0000

The Nigerian naira fluctuated well below N1600/$ on Thursday in the unofficial market, amid higher oil prices and investor concerns about tightening supplies.

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Exchange rate extends one-week appreciation rally across official, parallel markets post-Sallah holidays

Olalekan Adigun — Wed, 11 Jun 2025 05:35:31 +0000

The Naira has continued to extend its week-long appreciation stretch across official and parallel foreign exchange markets following the Sallah holidays.

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Naira holds below N1,600/$ in the holidays

Olumide Adesina — Tue, 10 Jun 2025 06:22:55 +0000

The Nigerian currency traded below the key resistance (N1600/$) against the greenback at the unofficial market.

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Naira gains against dollar as Sallah approaches, hits N1605/$1 at black market

Olalekan Adigun — Thu, 05 Jun 2025 12:13:53 +0000

The naira appreciated to N1605/$1 in the parallel market on Thursday, ahead of Sallah, from N1610/$1 the currency traded at on Wednesday.

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CBN’s BDC recapitalization deadline expires today as operators seek urgent extension to save 3 million jobs

Israel Ojoko — Tue, 03 Jun 2025 07:03:15 +0000

The Central Bank of Nigeria (CBN) recapitalization deadline for Bureau De Change (BDC) operators officially expired today, prompting renewed appeals from industry stakeholders for an extension to safeguard three million jobs and ensure compliance with new financial requirements.

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