FOREX: CBN Opens Week with $195million Intervention

ABUJA – The Central Bank of Nigeria (CBN) on Monday, July 31, 2017, offered $100 million in wholesale auction at the inter-bank Foreign Exchange market and intervened in the Small…

CBN Supply Crashes Dollar

…naira to appreciate further ahead of Friday Interventions … as CBN Intervention in Forex Market Pays Off The Naira firmed up at the Bureau de Change (BDCs) segment on Thursday,…

Naira Listed among 4 Worst Global Currency in 2016

The naira is one of the world’s four worst performing currencies in 2016, according to a report by Bloomberg LP. The naira was said to have lost 36.68 per cent…

CBN Spent $4billion to Defend Naira in 2016

The Central Bank of Nigeria spent $4 billion from the nation’s external reserves to defend the local currency in 12 months, statistics obtained from the CBN website on Tuesday showed.…

GTBank Slashes Monthly Spending Limit on Naira MasterCard, Bans Use of Cards Abroad

The difficulty in accessing foreign exchange has dealt more blows to usage of credit cards in Nigeria and outside the country as banks have moved to further slash the spending…

Naira recovery likely as Travelex begins weekly dollars sales to BDCs

The naira is expected to make a surprise recovery from today as Travelex, a global foreign exchange (forex) dealer, begins the sale of $15,000 weekly to each of the 3,000…

Naira Falls to N402 against US Dollars

The Naira on Wednesday dipped further against the dollar, closing at N402 to United States currency at the parallel market as against N397 last week. The slide from N397 it…

Is Naira on Recovery Path as Banks Begin Sale of Forex to BDCs?

By Akin Akinremi The resumption of sale of foreign exchange to Bureau De Change operators in the country may soon see dollar appreciate in all the segments of the foreign…

Naira May Rebound as Banks Begin Sale of Forex to BDCs

Naira, Nigeria’s currency may soon be on the rebound as banks began moves to sell foreign exchange to Bureau De Change (BDC) operators. The News Agency of Nigeria (NAN) reports…

Naira Plunges to N400 a Dollar at Parallel Market

The naira plunged to 400 against the dollar at the parallel market on Thursday as shortage of foreign exchange continued to have negative effects on economic activities in the country,…