parallel market

Posted on September 22, 2016 by Chacha Wabara

Naira’s Woes At Forex Market Continues As It Slumps to N428/$1

The Naira continued its slump in the forex market as it depreciated against the three major currencies in all segments. At the interbank market, it sold at N310 to the dollar as against N309 the previous day. At the Bureau de Change (BDC) market, the Naira lost one point to close at N424 to a Read More

Posted on June 20, 2016 by Nairametrics

Frequently Asked Questions: Nigeria’s New Exchange Rate Policy

Flexible Exchange Rate Policy; Frequently Asked Questions.   A new dawn in Nigeria’s exchange rate policy was ushered in on Monday June 20th by the Central Bank of Nigeria. The new policy is expected to enable an exchange rate that will be determined by the forces of demand and supply.   We have covered this subject Read More

Posted on June 20, 2016 by Nairametrics

Weekly Roundup/Outlook: Market Cap Crosses N10 Trillion For The First Time Since November 2015

The Nigerian Stock Exchange was on steroids last week as stocks rallied on the back of the new flexible exchange rate policy. Investors decided to take positions in stocks in anticipation of an influx of foreign portfolio investments into the country in the next few weeks or months. The NSE All-Share Index and Market Capitalization Read More

Posted on June 14, 2016 by Nairametrics

DEVALUATION: This Was The Exchange Rate The Last Time Oil Price Was $50

The CBN has been accused of late of basically worsening Nigeria’s currency position as it refused to devalue when it probably should have about a year ago. Devaluing now, though seen as belated, is still welcomed because it is still viewed as better than not doing it at all. The Central Bank of Nigeria is Read More

Posted on February 11, 2016 by Olarinmoye Segun

[BOOM] Naira Depreciates To N321 Against Dollar

The exchange rate on the parallel market took its biggest hit today, after the Naira traded at an all time low of N321 against the dollar in some parts of Lagos. This is a sharp decline compared with the N313 it traded at yesterday. Operators explain that the reason for the drop is due to Read More

Posted on December 30, 2013 by Nairametrics

Need Forex? These Options Are Cheaper and Better Than Black Market

A friend was going traveling out of the country for the Xmas holiday with his family. It is a yearly ritual for them as they hop from one continent to the other every other year. This time they were going to Dubai and since he was going with his wife three kids, house help and Read More