Author: New Daily Prime

The United States dollar closed Thursday, 15 January, with no fresh movement against the Nigerian naira across both the official and parallel foreign exchange markets, reinforcing a short-term period of stability, according to data from the NGNToday platform. At the official exchange window, the dollar traded at N1,419, unchanged from the rate recorded on Wednesday, 14 January. The flat close reflects balanced activity within the regulated market, where pricing has remained largely anchored in recent sessions. In the black market, the dollar also settled at a steady N1,487 on Thursday. While the rate showed no day-on-day change, it represented an…

The British pound closed trading on Thursday, 15 January, on a largely stable note against the Nigerian naira, with contrasting movements recorded across the official and black market segments, according to data from the NGNToday platform. At the official foreign exchange window, the pound strengthened slightly to N1,913, improving on the N1,908 recorded on Wednesday, 14 January. The modest appreciation highlights continued firmness in institutional pricing, suggesting sustained demand within regulated FX channels. In contrast, the parallel market reflected a different adjustment pattern. While the pound remained steady on Thursday at N1,995, the rate marked a decline from the previous…

The euro closed Thursday, 15 January, on a stable note against the Nigerian naira, with no variation recorded across both the official and parallel exchange rate segments, based on figures published by the NGNToday platform. At the official foreign exchange window, the European currency was priced at N1,658, matching the rate seen on Wednesday, 14 January. Activity in the black market followed the same pattern, as the euro was exchanged at N1,710, reflecting zero day-on-day movement. An analytical look at the figures shows a consistent spread of N52 between the two markets. The unchanged margin suggests that arbitrage pressure remained…

The Nigerian foreign exchange market remained calm on Wednesday, 14 January, with the euro maintaining stability across both official and parallel (black) market segments, according to the NGNToday platform. At the official window, the euro was quoted at N1,658, unchanged from the previous trading day. Meanwhile, the parallel market recorded the euro at N1,710, reflecting minimal fluctuations in demand and supply dynamics. Market Analysis Analysts suggest that the steady levels indicate a period of consolidation following recent volatility, with the Naira showing resilience amid cautious trading activity. Parallel market turnover was moderate, while official window operations remained orderly, providing predictability…

The British Pound held steady against the Nigerian naira on Wednesday, 14 January, according to NGNToday data, as the market paused after recent fluctuations. The pound exchanged at N1,908 on the official market, while the parallel (black) market rate stood at N2,010, unchanged from Tuesday, 13 January. Official vs Parallel Market Dynamics Though the rates remained numerically flat, analysts interpret this as a continuation of the pound’s earlier gains, signalling a period of short-term stability. The official rate reflects ongoing Central Bank interventions aimed at curbing excessive volatility, while the black market rate still carries a premium due to persistent…

At the official foreign exchange window, the naira closed at N1,419 per dollar, unchanged from the rate recorded on Tuesday, 13 January. Similarly, activity in the parallel (black) market showed stability, with the dollar trading at N1,495, matching the previous day’s level. The unchanged figures from NGNToday indicate that the marginal appreciation recorded earlier in the week has been sustained, rather than reversed. A data-driven review of market movements suggests that the foreign exchange market is currently in a consolidation phase.  After brief episodes of fluctuation, both the official and informal segments appear to be responding to improved short-term confidence,…

The Nigerian naira maintained stability against the United States dollar on Tuesday, 13 January, as exchange rates closed unchanged across both the official and black markets, according to data from the NGNToday platform. At the official market, the dollar traded at N1,419, the same rate recorded on Monday, 12 January. The parallel market also remained steady, with the dollar exchanging at N1,495, indicating a continuation of the naira’s marginal appreciation from the previous session. Market data suggest a calm trading environment, as the local currency faced no fresh depreciation pressures. Analysts describe the session as one of consolidation, with dollar…

The British pound sterling maintained a steady position against the Nigerian naira on Tuesday, 13 January, reflecting a pause in recent market volatility, according to data from the NGNToday platform. At the official foreign exchange window, the pound exchanged at N1,908, unchanged from the rate recorded on Monday, 12 January. Similarly, activity in the parallel (black) market showed the pound trading at N2,010, also holding the same level as the previous day. This consistency indicates a short-term equilibrium between demand and supply across both market segments. From a data analysis perspective, the unchanged rates suggest that the marginal appreciation observed…

The euro traded on a steady note against the naira on Tuesday, 13 January, reflecting a pause in recent currency movements across both official and parallel market segments, according to data from the NGNToday platform. At the official foreign exchange window, the euro closed at N1,658, unchanged from the previous trading session on Monday, 12 January. Similarly, activity in the black market showed stability, with the euro exchanging at N1,710, matching the rate recorded a day earlier. Although headline figures point to a flat close, market analysis indicates that the euro is consolidating gains made in the preceding session. The…

The euro maintained a firm footing against the naira on Monday, 12 January, as both the official and parallel market rates closed unchanged, signalling short-term stability in Nigeria’s foreign exchange market. Data obtained from the NGNToday platform show that the single European currency exchanged at N1,658 at the official market, while the black market rate stood at N1,710. These figures mirror Sunday closing rates of 11 January, confirming a steady performance following the euro’s recent appreciation against the local currency. From an analytical standpoint, the flat movement suggests that the market is currently in a holding pattern, with demand and…