Tag: Foreign Exchange
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Bitcoin Breaks $93K as Investor Optimism Grows on US–China Trade Easing and Institutional Support
Bitcoin has surged past the $93,000 threshold, marking a significant milestone in its ongoing rally and signaling a renewed wave of investor confidence in...
How Nigeria’s Forex Challenges are Reshaping Manufacturing Strategies
In 2024, Nigeria's ongoing foreign exchange (FX) difficulties significantly altered the landscape of the country’s manufacturing sector.
As import costs soared and access to foreign...
Customs Duty Collection Exchange Rate Once Again Exceeds the Official Market Rate
The Nigeria Customs Service (NCS) has raised the exchange rate for collecting customs by N3, surpassing the official Naira closing rate during the NAFEM...
Naira trades at 1,507.83/$ as FX inflows hit $24 billion
On Wednesday, the naira exchanged at N1,507.83 to the dollar in the official foreign exchange (FX) market, owing to enhanced liquidity following the country's...
Airtel Records $549M Foreign Exchange Loss on Naira, Kwacha Devaluation
Airtel Africa, Nigeria's second-largest telecoms operator, recently announced substantial financial setbacks due to currency depreciation in important markets such as Nigeria and Malawi.
For the...
