Currencies
Nigeria's daily parallel market exchange rate tracker
BDCs hint forex market will begin to see, capture diaspora remittances
ABCON has assured that the Nigerian economy will begin to see and capture the diaspora remittances when the Central Bank...
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Naira resumes slide at P2P market once again, trades as low as N910/$
In the P2P market, the Naira fell as low as N910 against the dollar on Wednesday morning before moderating to...
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Exchange rate falls to N900/$1 as operators ask ‘where is the dollar’
The exchange rate between the naira and the dollar plummeted to N900/$1 on the black market, based on quotes received...
Read moreDetailsBDCs admits Fintechs, unlicensed online firms diverting diaspora remittances
Bureau De Change Operators in Nigeria have agreed with the acting CBN Governor that most transfers conducted by the International...
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Nigeria’s Money Supply rises to N64.9 trillion in July 2023
Nigeria's money supply increased to N64.9 trillion in the month of July 2023, a significant rise from N64.3 trillion in...
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Currency in circulation declines for first time in 5 months
Nigeria's currency in circulation recorded a decline in July 2023, according to the latest data from the Central Bank of...
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Naira Rebound and Crude Oil Drop Buys President Tinubu Some Time
Major petroleum product traders and other independent traders could enjoy some relief from rising gasoline importation costs after oil prices...
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BIG READ: Difference between a fixed, free float crawling peg and managed float exchange rate system; which is better for Nigeria?
In a landmark move on June 16th, 2023, the Central Bank of Nigeria unveiled sweeping reforms to its foreign exchange...
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Exchange Rate: Unification effort by the CBN is already yielding dividend – CIBN
CIBN praised the efforts by President Tinubu towards stabilizing Nigeria’s fx rate adding as the effort of CBN is already...
Read moreDetailsCBN brings back BDC, introduces new Operational Mechanism for Bureau De Change Operations in Nigeria
In a bid to enhance the efficiency of the Nigerian Foreign Exchange Market, the Central Bank of Nigeria (CBN) has...
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