Calm Market Conditions As Dollar To Naira Rate Remains Steady Exchange Rate Today 12th January 2025

Calm Market Conditions As Dollar To Naira Rate Remains Steady Exchange Rate Today 12th January 2025....KINDLY READ THE FULL STORY HERE▶

At the Lagos Parallel Market (Black Market), the Dollar to Naira exchange rate is as follows:

• Buying Rate: N1660
• Selling Rate: N1670

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), and individuals seeking to exchange forex are advised to approach their respective banks.

Additionally, it is important to note that these rates may differ from what is captured in this article, as prices can vary

The decline in inflation is largely attributed to the gradual reduction of high petrol prices from year-on-year calculations, assuming there are no unforeseen adverse fluctuations in petrol prices.

Naija News highlights that inflation remains a significant challenge for Nigeria’s economy, driven by rising fuel prices and currency devaluation, which are impacting costs across various sectors.

The report noted, “We anticipate that headline inflation will remain elevated through 9M:25 but should drop below 30.0 per cent starting from September 2025 as high petrol costs are adjusted out of the year-on-year headline inflation, barring any unexpected negative impacts on petrol prices.

“This projection, along with our analysis of the USD/NGN exchange rate, fiscal deficits, and food supply trends, suggests that headline inflation could average 30.5 per cent year-on-year in 2025, settling at 27.1 per cent by December 2025.

“In our assessment, this could prompt the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to adopt a more accommodative monetary policy stance by late 2025. A relatively lower headline inflation in H2:24 should boost consumer spending, and business activity is likely to improve as the effects of the government’s two flagship policies (FX liberalization and fuel subsidy removal) diminish.”