Presently, the foreign exchange market is one of the largest and most liquid financial markets in the world. Traders include large banks, central banks, currency speculators, corporations, governments, and other financial institutions. The average daily volume in the global foreign exchange and related markets is continuously growing.

To trade the Nigerian Naira (NGN) it is crucial for success to gain valuable insight into its demand and supply relative to the US Dollar, and NairaTrade provides you with this data.

The Central Bank of Nigeria (CBN) controls the supply of foreign funds (mainly, US Dollars) in order to combat price volatility. However, the secondary currency is still very volatile and has potential to make sizable profits for currency speculators.

Central Bank of Nigeria (CBN) Dollar Auction: