Storytimes Newspapers

 The Nigerian naira continues to trade within a relatively narrow band against the United States dollar across both the official and parallel foreign exchange markets, reflecting sustained demand pressures and cautious market sentiment. At the Nigerian Foreign Exchange Market (NFEM), which serves as the official window, the naira is trading around ₦1,350 to ₦1,355 per dollar based on the most recent trading data and trends observed in the week. This aligns with recent figures showing the currency hovering near ₦1,351.59/$ and about ₦1,350.74/$ in preceding sessions. The official rate continues to be influenced by the Central Bank of Nigeria’s managed float system, with modest fluctuations driven by liquidity conditions and ongoing FX interventions. In the parallel market, also known as the black market, the naira trades at a significantly weaker level due to higher demand for dollars outside official channels. Latest data from Bureau De Change operators indicates the dollar is bein...

 The Nigerian naira remains under pressure against the British pound across both official and parallel foreign exchange markets, with rates reflecting persistent demand for foreign currency and tight supply conditions. At the Nigerian Foreign Exchange Market (NFEM), the pound is trading around ₦1,820 to ₦1,835 per £1, based on the latest available data and recent trading patterns. Earlier this week, the currency was quoted near ₦1,817.83/£, with only slight day-to-day fluctuations, indicating relative stability within the official window. Mid-market indicators also show the pound hovering in a similar range, with recent averages around ₦1,830–₦1,845, suggesting minimal volatility despite ongoing pressure on the naira.  In the parallel market, however, the naira trades significantly weaker against the British currency. Latest figures show the pound being bought at about ₦1,840 to ₦1,865 and sold between ₦1,885 and ₦1,900, depending on location and transaction size.  This c...