CATEGORY: NAIRA EXCHANGE RATE

CBN’s Issues Form Q For SME’s; What You Need To Know

CBN’s Issues Form Q For SME’s; What You Need To Know

Nairametrics| The Central Bank of Nigeria last week announced that it had created a new window for SME’s to access forex. SME will now...


Flashback: Emefiele’s 2015 FT Interview (Banks Still Full of Dollars)

Flashback: Emefiele’s 2015 FT Interview (Banks Still Full of Dollars)

Nairametrics| In 2015, Central Bank Governor, Godwin Emefiele had an interview with the Financial Times. This was at the height of his FX policies which...


BDC President Explains Why Naira May Strengthen This Week

BDC President Explains Why Naira May Strengthen This Week

An optimistic...



Do BDCs Actually Need The 400% Rise in Dollar Supply?

Do BDCs Actually Need The 400% Rise in Dollar Supply?

More when less is...


Frustrated, Importers Reveal How CBN’s Forex Policy Is A Mess

Frustrated, Importers Reveal How CBN’s Forex Policy Is A Mess

Who can sort this...


Currency Sellers List Theories That Explain Why The Black Market Is Running Wild

Currency Sellers List Theories That Explain Why The Black Market Is Running Wild

Nairametrics| The Central Bank of Nigeria is currently in a state of flux. Despite billions sold defending the Naira, the parallel market seem to...


Does This Chart Support IMF’s Claim That Naira Is Overvalued?

Does This Chart Support IMF’s Claim That Naira Is Overvalued?

Nairametrics| Since the Central Bank of Nigeria rolled out its revised forex policy on February 21st 2017, the initial success of the policy seemed...


BDCs Say $50,000 A Week, N10 Profit Margin And These 3 Other Steps Will Stop Round Tripping

BDCs Say $50,000 A Week, N10 Profit Margin And These 3 Other Steps Will Stop Round Tripping

Will these steps be...


CBN Announces New FX Deal For SMEs

CBN Announces New FX Deal For SMEs

Nairametrics| The Central Bank of Nigeria on Monday issued a press release, announcing that it would start selling forex to SME’s who it claims have been...


Will CBN’s Latest Move Against The Black Market Work?

Will CBN’s Latest Move Against The Black Market Work?

Nairametrics| The Central Bank of Nigeria issued a press release on Monday confirming that on Friday 7th April 2017 it auctioned the sum of US$418...


Our Experience Buying Forex At N360/$1

Our Experience Buying Forex At N360/$1

Nairametrics| The Central Bank of Nigeria (CBN) has instructed that commercial banks sell the dollar to customers at no more than N360. They have also instructed...


Timeline: Forex Decisions Taken By The CBN Since February 2017 (Updated April 10 2017)

Timeline: Forex Decisions Taken By The CBN Since February 2017 (Updated April 10 2017)

Nairametrics| The reign of Godwin Emefiele as CBN Governor will perhaps go down in history as one of the most tumultuous and controversial ever....


CBN Will Sell Dollars To Airlines, Fuel Importers and Other Businesses

CBN Will Sell Dollars To Airlines, Fuel Importers and Other Businesses

More satisfaction...


Short-Selling The Dollar Is Turning Into An Attractive Proposition

Short-Selling The Dollar Is Turning Into An Attractive Proposition

Nairametrics| Imagine that I borrowed $1000 from you when the exchange rate was $1/N520 with a promise to pay you back a month later....


Alternatives To Floating The Naira

Alternatives To Floating The Naira

In case you missed the first part of this article. You can get it here Nairametrics| At this juncture, while I am willing to...


A Case For And Against Floating The Naira

A Case For And Against Floating The Naira

Nairametrics| On Friday, the Naira closed at N390/$ down from N520/$ in January. The development follows a change of heart by the Central Bank...


CBN Issues New Circular: “Don’t Panic, We Have Enough FX”

CBN Issues New Circular: “Don’t Panic, We Have Enough FX”

Nairametrics| A friend of Nairametrics once remarked “A Circular a day, keeps speculators away”. It appears the CBN is determined to stick to that...


CBN Net FX Inflows Drop For The First Time Since November 2016

CBN Net FX Inflows Drop For The First Time Since November 2016

Nairametrics| Official records of the CBN indicates that the external reserves as at March 29, 2017 currently stands at $30,296,992,832 . Gross external reserves...


CBN Approves $10k Per Week FX Sale To BDC’s

CBN Approves $10k Per Week FX Sale To BDC’s

Just the few...


Understanding CBN’s Battle Against Speculators 

Understanding CBN’s Battle Against Speculators 

Nairametrics| In the popular book 48 laws of Power, author Robbert Greene writes in the 15th law that you crush your enemy totally!  It appears the...


CBN Fixes N362/$1 Rate For BDCs To Sell

CBN Fixes N362/$1 Rate For BDCs To Sell

Nairametrics| The Central Bank of Nigeria on Tuesday fixed an exchange rate of N362/$1 for Bureau De Change operators. (BDCs). Here are highlights The...


Naira Revaluation: Analysts Explain Why You Should Not Get Carried Away

Naira Revaluation: Analysts Explain Why You Should Not Get Carried Away

CBN has always elicited varied...


What Next After Exchange Rate Drops Below N400 For First Time Since August 2016?

What Next After Exchange Rate Drops Below N400 For First Time Since August 2016?

Nairametrics| The exchange rate between the naira and the dollar on the parallel market has dropped below N400 for the first time since August...


A Familiar Pattern Is Rearing Its Head On The Black Market

A Familiar Pattern Is Rearing Its Head On The Black Market

Nairametrics| The exchange rate closed on Thursday at a price of N400 on the black market. If you wanted to sell to black market operators,...


CBN Stays Pumping: Naira Now At 6 Months High

CBN Stays Pumping: Naira Now At 6 Months High

“You know what capitalism is? Getting f%&@!&” Scarface Nairametrics| A lot of words have been used to describe the recent CBN intervention in the retail...


Emefiele Has Finally Explained Why He Doesn’t Support A Free Float Of The Naira

Emefiele Has Finally Explained Why He Doesn’t Support A Free Float Of The Naira

Do they hold...


What We Experienced Trying To Buy Forex From Some Banks

What We Experienced Trying To Buy Forex From Some Banks

Nairametrics| The new CBN’s forex policy has been in operation for a little over two weeks now. The policy has seen the exchange rate...


CBN Instructs Banks To Open Dedicated Teller Points For PTA, School fees etc.

CBN Instructs Banks To Open Dedicated Teller Points For PTA, School fees etc.

Nairametrics| The Central Bank of Nigeria has issued a new circular to banks instructing them to open teller points in all locations to improve...


January FX Utilization By Banks Shows $811m Allocated To PTA

January FX Utilization By Banks Shows $811m Allocated To PTA

Nairametrics| The Central Bank of Nigeria on the 1st of March published the list of forex sold by commercial banks in Nigeria for the...


Bloomberg to Investors: “Don’t Be Fooled By The Biggest Black-Market Gain In a Year”

Bloomberg to Investors: “Don’t Be Fooled By The Biggest Black-Market Gain In a Year”

Who blinks...