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Tag Archives: Central Bank of Nigeria

CBN Records Dollar Upsurge As Remittances Quadruple

THE Central Bank of Nigeria (CBN) has reported a significant increase in foreign exchange inflow into the economy in February 2024. There is marked increment in remittance payments by Diasporic Nigerians. This is in addition  to  purchases of naira assets by foreign portfolio investors. Speaking with newsmen in Abuja,  the …

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Canadian Dollar To Naira Black Market Today

Amidst fluctuating economic conditions, the Nigerian parallel currency market, widely referred to as the black market, has seen the Canadian Dollar to Naira exchange rate reach N1,159.044. This rate, determined by informal currency traders known locally as ‘Abokis,’ underscores the ongoing challenges faced by Nigerians needing foreign currency amidst stringent official banking …

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Euro To Naira Black Market Today

THE Euro to Naira rate, in the Nigerian foreign exchange market, has reached a new high in the parallel market, standing at N1,751.351 for a single Euro. This rate is particularly significant for Nigerians with business, educational, or tourism interests in Europe and for technology sector professionals who earn their income in …

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Naira Depreciates To N1,620/$ At Parallel Market

THE Nigerian Naira saw a depreciation in value against the dollar at the parallel section of the foreign exchange market on Monday, sliding to N1,620/$, a decrease of N20 or 1.25 percent from its March 1, 2024, rate of N1,600. In contrast, at the official window, the Naira recorded a gain of …

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