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Tag Archives: Naira

Naira Records Biggest Daily Gain As NAFEX Hits $166.66m

Naira

The naira, yesterday, posted its biggest daily appreciation of N5.45 in the Investors and Exporters (I&E) window, while the volume of dollars traded rose to $166.66 million. Vanguardngr.com reports that data from Financial Market Dealers Quote (FMDQ) showed that the indicative exchange rate for the I&E window, known as Nigeria …

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Interbank rates rise as naira firms at parallel market

Naira

The interbank lending rates which is the rate at which banks lend amongst themselves soared to an all time high of 128 per cent from 70 per cent last week Friday after banks funded their accounts to participate in a currency forward, even as the value of the naira gained …

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ATM CARD SUSPENSION: Banks decline naira for visa payment

Naira

Thousands of United Kingdom and Canadian visa applicants and intending travellers wanting to book hotels online were stranded on Monday as Deposit Money Banks stopped their naira debit cards from being used for dollar and other foreign currency-denominated transactions. The DMBs had on Friday stopped their naira debit cards from …

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Naira drops to N440, Dollar influx drops

Naira

The naira was sold at the parallel market for 440 per dollar on Sunday, as the lingering foreign exchange scarcity increased to a new level. The local currency, which closed at 436/dollar on Thursday, eased to 435 in the early hours of Friday. It closed at 439/dollar. The naira had …

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Naira Stands At N423/$ At Parallel Market

Naira

At the resumption of trading at the money market, the Naira, on Wednesday, September 14, closed selling at N423 at the parallel market, from N424 which it traded before the holiday. The Nigerian Currency however gained momentum against the British Pound, as it sold at N550 compared to N555 which …

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Naira Further Crashes To N425/$ At Parallel Market

Naira

The Naira extended losses to N425 to the dollar at the parallel market on Thursday, September 1, from N423 the previous day. On Wednesday, the Nigerian currency sustained its free fall at the parallel market hitting N420 to the dollar, even as dollar sales by the Central Bank of Nigeria …

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