* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, May 30, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Rachel Guttman Launches Entertainment Law Firm Gutt Law, PLLC [Exclusive] – MusicRow.com

    Rachel Guttman Unveils Exciting New Entertainment Law Firm: Gutt Law, PLLC!

    HYBE Cashes In: Offloads Final Stake in K-Pop Rival SM Entertainment for $177 Million!

    Allied Gaming & Entertainment Receives Expected Nasdaq Notice Regarding Delayed Quarterly Report – Business Wire

    Allied Gaming & Entertainment Faces Nasdaq Notice Over Delayed Quarterly Report

    Weekly Entertainment Report May 29-June 1: Where to find lively arts, music, and shows – Manchester Ink Link

    Weekly Entertainment Report May 29-June 1: Where to find lively arts, music, and shows – Manchester Ink Link

    Aziz Ansari made Keanu Reeves Indian food so he wouldn’t feel ‘freaked out’ directing him in Good Fortune (exclusive) – Entertainment Weekly

    Aziz Ansari Whips Up Indian Cuisine for Keanu Reeves to Ease Directing Jitters in Good Fortune

    Cassie Ventura welcomes third child – crossroadstoday.com

    Cassie Ventura Joyfully Welcomes Her Third Child!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Finland to head EU’s quantum defense technology project – Latest news from Azerbaijan

    Finland Takes the Lead in Pioneering EU’s Quantum Defense Technology Initiative!

    i3D Robotics Unveils Breakthrough Glass Defect Detection Technology – USGlass Magazine

    Revolutionary Glass Defect Detection Technology Unveiled by i3D Robotics!

    4Liberty Announces Collaboration with Itron to Drive Innovation in Utility Technology Adoption and Optimization – FinancialContent

    4Liberty Partners with Itron to Revolutionize Utility Technology and Boost Innovation

    Q1 2025 Quantum Technology Investment: What’s Driving the Surge in Quantum Investment? – The Quantum Insider

    Unleashing the Future: Exploring the Surge in Quantum Technology Investments for Q1 2025

    MIT Team Releases Tempting Report on Electric Aircraft Technology – AVweb

    MIT Team Releases Tempting Report on Electric Aircraft Technology – AVweb

    MSE, DXC Technology expand tech partnership – Sports Business Journal

    MSE, DXC Technology expand tech partnership – Sports Business Journal

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Rachel Guttman Launches Entertainment Law Firm Gutt Law, PLLC [Exclusive] – MusicRow.com

    Rachel Guttman Unveils Exciting New Entertainment Law Firm: Gutt Law, PLLC!

    HYBE Cashes In: Offloads Final Stake in K-Pop Rival SM Entertainment for $177 Million!

    Allied Gaming & Entertainment Receives Expected Nasdaq Notice Regarding Delayed Quarterly Report – Business Wire

    Allied Gaming & Entertainment Faces Nasdaq Notice Over Delayed Quarterly Report

    Weekly Entertainment Report May 29-June 1: Where to find lively arts, music, and shows – Manchester Ink Link

    Weekly Entertainment Report May 29-June 1: Where to find lively arts, music, and shows – Manchester Ink Link

    Aziz Ansari made Keanu Reeves Indian food so he wouldn’t feel ‘freaked out’ directing him in Good Fortune (exclusive) – Entertainment Weekly

    Aziz Ansari Whips Up Indian Cuisine for Keanu Reeves to Ease Directing Jitters in Good Fortune

    Cassie Ventura welcomes third child – crossroadstoday.com

    Cassie Ventura Joyfully Welcomes Her Third Child!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Finland to head EU’s quantum defense technology project – Latest news from Azerbaijan

    Finland Takes the Lead in Pioneering EU’s Quantum Defense Technology Initiative!

    i3D Robotics Unveils Breakthrough Glass Defect Detection Technology – USGlass Magazine

    Revolutionary Glass Defect Detection Technology Unveiled by i3D Robotics!

    4Liberty Announces Collaboration with Itron to Drive Innovation in Utility Technology Adoption and Optimization – FinancialContent

    4Liberty Partners with Itron to Revolutionize Utility Technology and Boost Innovation

    Q1 2025 Quantum Technology Investment: What’s Driving the Surge in Quantum Investment? – The Quantum Insider

    Unleashing the Future: Exploring the Surge in Quantum Technology Investments for Q1 2025

    MIT Team Releases Tempting Report on Electric Aircraft Technology – AVweb

    MIT Team Releases Tempting Report on Electric Aircraft Technology – AVweb

    MSE, DXC Technology expand tech partnership – Sports Business Journal

    MSE, DXC Technology expand tech partnership – Sports Business Journal

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Naira Gains Momentum in Parallel Market Following Three Days of Stability

November 18, 2023
in Business
Naira Gains Momentum in Parallel Market Following Three Days of Stability
Share on FacebookShare on Twitter

The Naira gained 0.88 percent against the dollar on Thursday, reaching N1,125/$, breaking free from its three-day stability at N1,135 on the parallel market. Aboki FX data indicates a consistent moderation in Naira pressure, signaling a shift from last month’s gains at N1,310.

While the parallel market closed at N1,140 on Monday, it appreciated on Tuesday, closing at N1,135 per dollar. The Naira maintained this rate on Wednesday and Thursday, fostering a sense of stability in the foreign exchange market.

Despite these gains, the Naira experienced fluctuations against the US dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM), the official exchange rate window. On Thursday, it weakened by 2.70 percent, quoting the dollar at N841.14 compared to N818.99 on Wednesday.

Naira gains in the black market

A black market operator, Saidu Abdulrahman, disclosed that the dollar now sells for N1,050, while they buy at N1,020, indicating a significant appreciation in the black market.

Addressing the sustainability of this upward trend, Johnson Chukwu, CEO of Cowry Asset Management Limited, emphasized the Central Bank of Nigeria (CBN) pivotal role. Chukwu highlighted the need for the CBN to maintain market liquidity by ensuring a sufficient supply of foreign exchange, asserting that this would drive up the value of the Naira and lower the value of foreign currencies, especially the US dollar.

Chukwu further explained that liquidity in the market would be contingent on improvements in the country’s crude oil production. He stated, “Whenever the CBN improves supply into the market, the Naira will appreciate at FMDQ, and whenever the supply is insufficient to meet demand, it will depreciate.” Emphasizing the CBN’s central role, he noted that market dynamics currently lack commercial viability, underscoring the necessity of CBN interventions to determine market outcomes.

In conclusion, the Naira’s recent gains in the parallel market signify a positive trend. Yet, the sustainability of this progress hinges on the CBN’s strategic actions to enhance market liquidity, potentially through increased crude oil production or government-backed borrowing initiatives.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : BusinessElitesAfrica – https://businesselitesafrica.com/2023/11/17/naira-gains-momentum-in-parallel-market-following-three-days-of-stability/

Tags: businessgainsNaira
Previous Post

Unlocking Boundless Horizons: 5 Countries Africans Can Explore as Digital Nomads

Next Post

Sam Altman Fired as CEO of OpenAI Amid Board Concerns Over Lack of Candor

Issues & problems in Puget Sound – Washington State Department of Ecology (.gov)

Uncovering the Challenges Facing Puget Sound: A Deep Dive into Environmental Issues

May 30, 2025
As Trump comes after research, Forest Service scientists keep working – High Country News

Amid Political Turmoil, Forest Service Scientists Forge Ahead with Vital Research

May 30, 2025

How Major NSF Funding Cuts Could Transform the Future of Science

May 30, 2025
High Maintenance Partner: Is it Worth It!? Love Bites with Lifestyle Coach Francesca Luca – WATD 95.9 FM

High Maintenance Love: Is It Worth the Effort

May 30, 2025
Steer World launches iSeries line of extruders – Recycling Today

Steer World Unveils Innovative iSeries Line of Extruders!

May 30, 2025
India’s economy outperforms peers as it surges 7.4% in January-March – Reuters

India’s Economy Soars with an Impressive 7.4% Growth in Q1!

May 30, 2025
Rachel Guttman Launches Entertainment Law Firm Gutt Law, PLLC [Exclusive] – MusicRow.com

Rachel Guttman Unveils Exciting New Entertainment Law Firm: Gutt Law, PLLC!

May 30, 2025
Oklahoma oil and gas drillers face few regulations amid lingering concerns about health impact – Oklahoma Voice

Unregulated Oil and Gas Drilling in Oklahoma: Health Concerns on the Rise

May 30, 2025
Trump administration pressures ‘sanctuary jurisdictions’ by publishing list of places ‘deliberately obstructing’ immigration enforcement – PBS

Trump Administration Targets Sanctuary Cities with Controversial Immigration Enforcement List

May 30, 2025
Finland to head EU’s quantum defense technology project – Latest news from Azerbaijan

Finland Takes the Lead in Pioneering EU’s Quantum Defense Technology Initiative!

May 30, 2025

Categories

Archives

May 2025
MTWTFSS
 1234
567891011
12131415161718
19202122232425
262728293031 
« Apr    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (653)
  • Economy (666)
  • Entertainment (21,573)
  • General (15,248)
  • Health (9,708)
  • Lifestyle (668)
  • News (22,149)
  • People (668)
  • Politics (674)
  • Science (15,888)
  • Sports (21,171)
  • Technology (15,653)
  • World (654)

Recent News

Issues & problems in Puget Sound – Washington State Department of Ecology (.gov)

Uncovering the Challenges Facing Puget Sound: A Deep Dive into Environmental Issues

May 30, 2025
As Trump comes after research, Forest Service scientists keep working – High Country News

Amid Political Turmoil, Forest Service Scientists Forge Ahead with Vital Research

May 30, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version