Naira to depreciate slightly over $1.52 billion forward contracts

Exchange rate depreciates at NAFEX window as forex liquidity drops further by 57%, Central Bank Continues intervention in Forex market to stabilize Naira, Naira to depreciate slightly over $1.52 billion maturing contracts expires, Naira hits N388.84 to $1 at the currency spot market, Investors and Exporters (I&E) window, Naira weakens against the dollar by 1.14% amidst uncertainty, Naira gains against the dollar at I&E window, forex liquidity up by 242%

Currency traders are expecting the naira to fall slightly today, due to the maturing $1.52 billion April 29 contract.

FG warns Nigerians about on-going N3million COVID-19 grant scam, IMF, World bank loans, Over 56% of 2019 budget expenditure was released for capital projects , FG changes decision to sell stake of oil assets in JVs, Finance Bill: Nigeria exempts small businesses from Company Income Tax , Finance Bill is for the good of Nigerians – Finance Minister, Zainab Ahmed, Nigeria, five other West African countries reject ‘Eco’ as ECOWAS single currency, FG rejects calls for tax reduction, tax relief for donors to intervention funds, Nigerian economy going into recession, might contract by -8.9% - Finance Minister, Nigeria to spend $33.20 billion in 2021 up 17.2%, will spend 25% of budget on debt servicing - Finance Ministry, COVID -19: FG accesses $750m loans from World Bank for states

What FG told IMF on flexible, unified exchange rate

April 30, 2020

More currency flexibility would help to protect dwindling external reserves and avert economic distortions, leaving them to only intervene when ...

COVID-19 could save naira from depreciating further, Many odds against the naira, Naira forwards and parallel market crash puts pressure on official exchange rate, Naira appreciates to N386.94 to $1 at investor and exporters window. , Naira set for recovery as ABCON issues guideline to members for forex sales resumption, Naira falls against the Euro, British pound sterling but gains against the U.S dollar, Naira falls at black market, dollar liquidity remains relatively low , Forex, Naira drops further at the black market despite appreciating at I&E window

Naira drops to N460/$1 in parallel market, puts pressure on official exchange rate

by Chike Olisah

April 28, 2020

The consistent slide of the naira in the parallel market is a pointer to the fact that CBN may further ...

Foreign investors trapped in the debt market as dollar scarcity persists

by Chike Olisah

April 24, 2020

As the country’s external reserve faces more pressure, foreign investors have been held down in Nigeria’s debt market.

American Dollar remains king as stimulus fails to stop global financial market panic,Demand for “Inflow dollars” drive exchange rate to as high as $N420/$1 compared to “Cash dollars”, U.S dollar drops against major currencies, tension rises between America and China, U.S dollar gains against major currencies, America threatens China with sanctions., U.S dollar down against major currencies, more countries start lifting of COVID-19 induced lockdowns, The U.S. Dollar Index that tracks the American dollar dropped 0.14% to 96.5 as global Investors and traders appetite for risk increased in momentum, Digitization of U.S Dollar Faces U.S Senate Hearing, U.S dollar Remains Neutral as Strong Economic Macros Weaken its demand, U.S dollar Remains Neutral as Strong Economic Macros Weaken its demandU.S dollar Remains Neutral as Strong Economic Macros Weaken its demandU.S dollar Remains Neutral as Strong Economic Macros Weaken its demand

Demand for “Inflow dollars” drive exchange rate to as high as N420/$1 compared to “Cash dollars”

by Abiola Odutola

April 17, 2020

COVID-19 pandemic and the crash in oil prices have all but extinguished supply of dollars from the IFEX market (official ...

Nigeria’s manufacturing sector contracts for 5th consecutive month – CBN , To test FX market, CBN pumps $50 million, CBN issues guidelines to Finance Institutions on establishment of Subsidiaries and SPVs, CBN injects $2.63 billion to defend naira in one month, CBN’s COVID-19 N50 billion targeted credit facility, CBN’s heterodox policies buoys credit growth, These industries drove business activities in September, Credit to Nigerian economy falls to N38.67 trillion as private stagnates at N30 trillion, Availability of secured credit to businesses and households increases as unsecured credit to households dips in Q3 2020 - CBN, CBN releases regulatory guidelines on the eNaira

CBN to finance renewable energy initiatives, sets up N500 billion fund for manufacturers

by Chike Olisah

April 15, 2020

As you may well know, the Coronavirus pandemic has come with its devastating impacts on the social/economic lives of people ...

Nigerian Banks reduce dollar spending limits as forex scarcity rises

by Olumide Adesina

March 31, 2020

Many Nigerian banks are reducing how much foreign currency customers can spend abroad as concerns over the impact of the ...

CBN suspends forex sales to BDC operators till further notice

by Abiola Odutola

March 26, 2020

Central Bank of Nigeria (CBN) has suspended the sales of foreign exchange to operators of Bureau de Change until further ...

Naira scarcity: CBN, Police to prosecute sellers and abusers of Naira

Devaluation is here as CBN sells dollars at N380/USD

by Abiola Odutola

March 20, 2020

The Central Bank of Nigeria (CBN) has reportedly devalued the Naira. Nairametrics found from a reliable source that the CBN ...

CBN, Key lending rate, CBN to boost creative industry with N22 billion , CBN increases LDR to 65%, sets December deadline, External reserves drop by $3.2 billion in Q3’19 , Banks' loans to Oil and Gas, Power, other sectors drop by N411.8 billion

CBN blows $2.04 billion to defend the Naira in May as Reserves deplete

by Bamidele Samuel Adesoji

June 28, 2019

In its continued intervention in the foreign exchange market, the Central Bank of Nigeria (CBN) injected a cumulative sum of ...

Tag: CBN Forex Policy