The exchange rate between the naira and the US dollar appreciated N1,558.75 at the official Investor and Exporter (I&E) window on Wednesday, September 11, 2024. This marks a 4.81% gain from the previous day’s rate of N1,637.59 as Nigerian oil blends trade at $75 above the Brent contract of $70. The naira’s recent performance reflects
The exchange rate between the naira and the US dollar depreciated by 3.61% at the official Investor and Exporter (I&E) window on Monday, September 10, 2024. According to data from FMDQ, which tracks official currency transactions, the naira’s depreciation on September 10 had the naira fall to N 1637.59. The exchange rate experienced a depreciation
On Friday, August 23rd, the US Federal Reserve Chair, Jay Powell delivered a much awaited speech at the Jackson Hole symposium hinting at a possible interest rate cut in the coming months. According to Jay Powell, “The time has come for policy to adjust,” stating that “The direction of travel is clear, and the timing
The naira has appreciated again to close below N1,600/$1 on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window. According to data from the FMQD, Nigeria’s exchange rate closed at N1,596.52/$1 on the official market, which is the second time it is falling below the N1,600 ceiling this month. The local currency is appreciating for the