CATEGORY: NAIRA EXCHANGE RATE

Interbank Lending Rates Hits 200% As Banks Borrow From Each Other To Buy Forex

Nairametrics| Nigerian Banks are on a buying spree and they are borrowing at record rates to do so.  According...


Black Market Exchange Rate Drops Below N500; First Time In 3 Weeks

Nigeria’s parallel market exchange rate dropped below N500 for the first time since February 2, 2017. Data from our parallel...


Alert: Fitch Explains Why Latest Forex Policy Could Favour Banks

Rating agency Fitch, has dropped its first analysis on the latest CBN Forex Policy. Here it is LONDON, February...



Analysis: Speculators Are Offloading Dollars, What is The End Game?

Nairametrics| Yesterday, Reuters reported that Central Bank of Nigeria sold about $6.5 million of Forex to the interbank market...


Chart Shows How Nigeria Lost Over $80 billion In Forex Inflows In 3 Years

Nairametrics| The Central Bank of Nigeria on Tuesday, issued a rash of new forex polices aimed at reducing dollar...


CBN sells $6m to banks @N304.75

The Central Bank of Nigeria sold about $6 million to commercial banks on Tuesday, according to information from Reuters. ...


What You Need To Access Forex For PTA, School & Medical Fees

Nairametrics| The Central Bank of Nigeria has issued new guidelines for the documentation required to access Forex for Personal...



Clues That The CBN Is Warming Up For A Full Float Of The Naira

Reports reaching Nairametrics suggest that the latest forex policy announced by the CBN may be a major step towards...


Why The Latest Exchange Rate Policy Is Another Devaluation Of The Naira

The Central Bank of Nigeria announced a new FX policy on Monday, 20th of February, 2017 targeting the retail...


What You Need To Know About The New CBN Forex Policy

Nairametrics| On Monday, 20th of February 2016, the Central Bank of Nigeria issued a new forex policy on its website....


CBN Introduces New Foreign Exchange Policy.

In what appears to be a step towards a flexible exchange rate, the Central Bank Of Nigeria (CBN) today...


Here Is One CBN Decision That Is Killing The Naira…Daily!

Nairametrics| The exchange rate between the naira and the dollar hit an all time low last week dropping to...



FEC Calls For “Urgent” Review Of Nigeria’s Forex Policy 

The Central Bank Governor is under pressure not just from you and I but also from some people in...



Dem Say We Do Eurobond; Guy, wetin be Eurobond? by @DoubleEph

A layman's explanation of what Nigeria's successful Eurobond Means to you and...



CBN Attacks “Emefiele Must Go” Gang With 16 “Emefiele Must Stay” Tweets

Nairametrics| The Central Bank on Saturday, through its twitter handle, released a series of tweets directed at critics calling...


CBN Sells $660 million In Forward Contract; Here Is What It Means

Nairametrics/Reuters| Information from currency traders reveals that the Central Bank of Nigeria sold about $660 million in three- and...


CBN Just Denied Two Of The Biggest Infractions It Has Been Blamed For

The Central Bank of Nigeria has been under frequent criticism from Nigerians unhappy with its handling of the forex...


Press Release: CBN Fires Back At Critics ‘Creating Panic In The System’

The Central Bank of Nigeria (CBN) has issued a press release directed at critics who it perceives are miss-informing...


Emefiele Calls Critics of Multiple Exchange Rates “Mischievous”

The Central Bank of Nigeria’s Governor, Godwin chastised critics who insists that Nigeria has multiple exchange rates, calling them...


Naira Set To Depreciate Further As Nigerians In Diaspora Disappoint This Holiday

Nairametrics| Traders believe the Naira will depreciate further at the end of the year as forex from Nigerians living...


Message To CBN: ‘Blockchain Is Taking Over, Swim or Sink’

Note: This article was culled from Coin Telegraph Concerned about the rapid encroachment of Blockchain into the country, Nigeria’s...


What African Startups Can Learn From African Currencies Floating Against The Dollar

This year will perhaps go down in history as one of the worst for emerging markets and one that...


Why The CBN Cut Dollar Sales to BDC’s In Lagos and Abuja

Reports emerged on Monday that the Central Bank has reduced the value of dollar sales to BDC operators from...


Emefiele Chides His Critics With Two Very Bizarre “Jokes”

The Central Bank Governor, Godwin Emefiele is well known around the business circles for his controversial policies especially as...


New law: Almighty CBN Seeks Sweeping Powers To Seize Foreign Currency, Restrict Repatriation etc.

The Central Bank of Nigeria is proposing a string of new amendments to the Foreign Exchange, Monitoring and Miscellaneous...


BOOM: FMDQ Suspends Spot FX Closing Rate, Confirming Flexible Exchange Rate Is Broken

The FMDQ OTC, the official market for bonds, treasury bills and forex trading has approved the suspension of the...