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Naira Rises To N1,493/$ In Official Market - Business - Nairaland 1p3w6u

Naira Rises To N1,493/$ In Official Market (13146 Views)

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NaijaCover(m): 8:55am On Jan 31
The Naira yesterday appreciated to N1,493 per in the official foreign exchange market.

Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the Nigerian Foreign Exchange Market (NFEM) fell to N1,493 per dollar from N1,506 per dollar on Wednesday, indicating N13 appreciation for the naira.

The official exchange rate once reached the N1,400 per dollar threshold in January and May 2024.

The official exchange rate has been on an appreciating trend following the launch of the CBN Foreign Exchange Code this week.

Similarly, the Naira appreciated to N1,620 in the parallel market from N1,630 per dollar on Wednesday.

Consequently, the margin between the parallel market and NFEM rate widened to N127 per dollar from N124 per dollar on Wednesday.

Source: https://www.vanguardngr.com/2025/01/naira-rises-to-n1493-in-official-market/

14 Likes 2 Shares
NaijaCover(m): 8:56am On Jan 31
Mr Blogger Is Just Speechless 😞

1 Like

CodeTemplar: 9:15am On Jan 31
Better late but can do even better.

6 Likes

jericco1(m): 9:38am On Jan 31
It's well
Chibuzoc(m): 9:38am On Jan 31
grin useless naira, if you’re not earning in $$ or have any family member remitting hard currencies, you are the mvp

24 Likes 1 Share
Starzo: 9:38am On Jan 31
Wetin nor dey affect prize of goods for market

I'm no longer interested in naira/dollar news

21 Likes 1 Share
yesloaded: 9:38am On Jan 31
196naira just 10yrs ago

34 Likes 6 Shares
Abaziaka: 9:38am On Jan 31
If doesn't change the price of things in the market it's fake and irrelevant

1 Like

saintjimos(m): 9:38am On Jan 31
Time to buy

4 Likes

tnerro1(m): 9:39am On Jan 31
Wow, another achievement 😂

2 Likes 1 Share
Kingpele(m): 9:39am On Jan 31
grin grin grin In 2011 APC told said is 217 to 1dollar ok? But today APC and thier willing zombies on Nairaland want us to celebrate 1430 to 1dollar...APC is a consuming cancer upon Nigeria 🇳🇬

34 Likes

igahdavid(m): 9:39am On Jan 31
Good news

7 Likes

EmmaLege: 9:39am On Jan 31
🙄🙄🙄
bewisemasses: 9:40am On Jan 31
The naira gaining 12 [color=#990000][/color] is not worthy to ve news. The dollar losing 1200 naira; now that's news.
Propaganda people go celebrate this one.
Manny21: 9:40am On Jan 31
Naira ganusi. Artificial rise

6 Likes

Roboto11: 9:41am On Jan 31
Well done.

👏 👏 👏

1 Like

Okpokpo09: 9:41am On Jan 31
Do not sell your dollar o! As long as Apc remains in power be rest assured that dollar must past 3000 naira in next two years. The first class illiterate has nothing to offer

13 Likes

Newsmills: 9:41am On Jan 31
CBN's daily dairy with book profit appreciation of naira.Noted tribal CBN governor.
Sheuns(m): 9:43am On Jan 31
Buy if you can. Once the Chinese holiday is over, the prices will skyrocket.

17 Likes 1 Share
AfahaAbia(m): 9:43am On Jan 31
Why are goods and services in Nigeria not reducing prices? I just don't understand

8 Likes

prinsam30: 9:44am On Jan 31
UNTIL DOLLAR IS BACK TO IT ORIGINAL STATE WHERE U GUYS MET IT AT N600 BEFORE I WILL TAKE U GUYS SERIOUSLY SERIOUS

8 Likes

AfahaAbia(m): 9:44am On Jan 31
Sheuns:
Buy if you can. Once the Chinese holiday is over, the prices will skyrocket.

Seriously! Please how true is this?
israelmao(m): 9:45am On Jan 31
Oscillating and yoyo economy of Emilokan.

3 Likes

osuofia2(m): 9:45am On Jan 31
Let's wait for the enemies of Nigeria that prefer to see the country in ruin. They will never be happy seeing the country make progress, to them negative news is supreme.

2 Likes 1 Share
Nahunger(m): 9:46am On Jan 31
cheesy


Okay
Boju boju

1 Like

pyyxxaro: 9:46am On Jan 31
Sai Baba

On your rusty testes we stand 🙌🏿
en0uwem: 9:48am On Jan 31
OFFICIAL MARKET

1 Like

Sheuns(m): 9:48am On Jan 31
AfahaAbia:


Seriously! Please how true is this?

There’s low demands now due to the Chinese holidays. No work in the whole of China for a few weeks, so people aren’t buying much.

13 Likes 2 Shares
PRINCESSFCFANSs: 9:49am On Jan 31
OK ,


all this high rate is affecting the masses ,



things are expensive ,





Princess Faith Chukwu

1 Like

Fcwilly: 9:52am On Jan 31
Official Dollar price is a scam, please someone help me tell oga CARDOSO@ CBN and President Tinubu @ASO ROCK because that official doesn't exist.

2 Likes

magoo10(m): 9:52am On Jan 31
Similarly, the Naira appreciated to N1,620 in the parallel market from N1,630 per dollar on Wednesday.
Oluwole economics of deceit

9 Likes 1 Share

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World Bank Warns CBN Against FX Control, Direct Lending, Subsidy Programmes

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