Nigerian Naira

The Nigerian Naira decreased to 161.70 in April from 165.05 in March of 2014. Nigerian Naira averaged 120.74 from 1960 until 2014, reaching an all time high of 165.65 in February of 2014 and a record low of 0.53 in October of 1980. The USDNGN spot exchange rate specifies how much one currency, the USD, is currently worth in terms of the other, the NGN. While the USDNGN spot exchange rate is quoted and exchanged in the same day, the USDNGN forward rate is quoted today but for delivery and payment on a specific future date. This page provides - Nigerian Naira - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-16

Actual Previous Highest Lowest Forecast Dates Unit Frequency
161.70 165.05 165.65 0.53 159.49 | 2014/05 1960 - 2014 Daily

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Nigerian Naira
LIST BY COUNTRY

Markets Last Previous Highest Lowest Forecast Unit
Currency 161.23 2014-04-15 165.05 165.65 0.53 159.49 2014-05-31 [+]
Government Bond 10y 14.11 2014-04-14 14.12 16.46 5.92 14.03 2014-05-31 Percent [+]
Stock Market 1756.43 2014-04-14 1733.91 1925.24 848.08 1778.84 2014-05-31 Index points [+]
[+]


Currency | Notes
An exchange rate is the current market price for which one currency can be exchanged for another. For instance, if the Euro exchange rate for the United States Dollar stands at 1.3, this means that 1 euro can be exchanged for 1.3 U.S. dollars. Because exchange rates play such an important role in a country's competiveness level, currency exchange rates are among the most analysed and forecasted indicators in the world. The exchange rate is determined by the level of supply and demand on the international markets. However, changes in foreign exchange market rates are often difficult to understand and to predict because the market is very large and volatile. In fact, the currency markets are the most liquid in the world with a daily turnover of close to $2 trillion, which compares to $500 billion for the US government bond market and $70 billion on the New York Stock Exchange.


RELATED NEWS

Nigerian Inflation Rate Edges Up Slightly in March  
The annual consumer prices in Nigeria accelerated to 7.8 percent in March of 2014, from 7.7 percent recorded in February, as food cost edged up. Compared with the same period a year earlier, the inflation rate slowed down from 8.6 in March of 2013.
Nigeria Central Bank Leaves Rate on Hold and Hikes Reserve Ratio  
The Monetary Policy Committee decided on March 25th to hold the interest rate at 12 percent, as the Central Bank agreed to continue the existing tight monetary policies. It also decided to increase the cash reserves requirement for private sector deposits by 300 bps to 15 percent.
Nigeria Inflation Falls to 6-Year Low  
In February of 2014, Nigeria annual inflation rate decelerated to 7.7 percent, down from 8 percent in January, as all consumer prices slowed. The central bank targets consumer inflation between 6 and 9 percent.
Nigeria Inflation Rate Unchanged at 8% in January  
In January of 2014, Nigeria annual inflation rate remained steady at 8 percent. All major prices were relatively unchanged for the second consecutive month at the single digit rate.
Nigeria’s GDP May Rise after Rebasing Exercise  
Nigeria National Bureau of Statistics will replace the present GDP price structure (base year) for the first time in 23 years with a more recent one to reflect structural changes in the economy.
Nigeria GDP Expands 7.67% in Q4 2013  
According to Nigeria National Bureau of Statistics estimates, the country’s GDP advanced 7.67 percent year-on-year in the last quarter of 2013, higher than the revised figure of 6.81 and 6.99 percent recorded in the third quarter and the corresponding period of 2012, respectively. For 2013, growth rate was estimated at 6.87 percent, up from 6.58 percent in 2012.
Bank of Nigeria Holds Key Rate at 12%  
In its January 20th and 21st, 2014 meeting, the Monetary Policy Committee of the Central Bank of Nigeria decided to leave the benchmark interest rate unchanged at 12 percent for the fourteenth straight meeting.
Nigeria Inflation Rate Rises in December  
In December of 2013, Nigeria annual inflation rate rose slightly to 8 percent, from 7.9 percent in November. Nigeria's central bank sets 2014 consumer inflation between 6 and 9 percent.
Nigeria Inflation Rate Accelerates in November  
In November of 2013, Nigeria inflation rate edged up for the first time in four months to 7.9 percent, mainly due to higher food prices. The October reading at 7.8 percent was the lowest in more than five years.
Central Bank of Nigeria Leaves Rate Unchanged in November  
In its 19th of November meeting, the Monetary Policy Committee of the Central Bank of Nigeria decided to leave the benchmark interest rate unchanged at 12 percent. The Committee cited attaining price and exchange rates stability, and warned of possible tightening in 2014.
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US Inflation Rate Up to 1.5% in March  
US annual consumer prices accelerated to 1.5 percent in March, boosted by higher shelter and food cost. On a monthly basis, the inflation rate edged up to 0.2 percent, following a 0.1 percent increase in February.
India Consumer Inflation Edges Up in March  
Indian annual consumer prices accelerated in March for the first time in four months to 8.31 percent, up from a revised 8.03 percent in February, driven by higher food prices.
Nigerian Inflation Rate Edges Up Slightly in March  
The annual consumer prices in Nigeria accelerated to 7.8 percent in March of 2014, from 7.7 percent recorded in February, as food cost edged up. Compared with the same period a year earlier, the inflation rate slowed down from 8.6 in March of 2013.
Turkey Unemployment Rate Edges Up Slightly in January  
Turkish jobless rate increased for the third consecutive month in January of 2014 to 10.1 percent, up from 10.0 percent in the previous month, but decreased compared with 10.6 percent recorded a year earlier.
Euro Area Trade Surplus Widens in February On Rising Exports  
The first estimate for the Euro Area trade in goods balance with the rest of the world in February of 2014 gave a € 13.6 billion surplus, compared with € +9.8 bn in February of 2013. The January 2014 balance was € +0.8 bn.
UK Inflation Rate Slows Further in March  
UK annual consumer prices fell to its lowest in over four year in March of 2014. The inflation rate decelerated for the sixth consecutive month to 1.6 percent, down from 1.7 percent in February, due to lower fuel, clothing and furniture prices.
India Wholesale Inflation Up to 3-Month High  
In March of 2014, India wholesale prices accelerated to an annual 5.7 percent on higher food, fuel and manufacturing cost, breaking a three-month easing trend.
Ghana’s Economy Advances 2.7% QoQ in Q4  
Ghana GDP growth accelerated to a quarter-on-quarter seasonally adjusted 2.7 percent in the last three months of 2013. Figures for the previous quarter were revised to show a 4.4 percent contraction, down from a 0.5 percent expansion initially reported.
US Retail Sales Beat Expectations in March  
Retail sales increased 1.1 percent over the previous month in March of 2014, up from a revised 0.7 percent rise in February. It is the biggest growth rate in 1-1/2 years.
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