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CBN FOREX POLICY
News and analysis about CBN Forex Policy
The consistent slide of the naira in the parallel market is a pointer to the fact that CBN may further devalue the naira.
As the country’s external reserve faces more pressure, foreign investors have been held down in Nigeria’s debt market.
COVID-19 pandemic and the crash in oil prices have all but extinguished supply of dollars from the IFEX market (official market for trading forex).
As you may well know, the Coronavirus pandemic has come with its devastating impacts on the social/economic lives of people around the world. The CBN is, therefore, putting measures in place to deal with the aftermath of the pandemic.
Many Nigerian banks are reducing how much foreign currency customers can spend abroad as concerns over the impact of the COVID-19 pandemic and drop in crude oil prices worsens Nigeria’s currency situation.
Central Bank of Nigeria (CBN) has suspended the sales of foreign exchange to operators of Bureau de Change until further notice
The Central Bank of Nigeria (CBN) has reportedly devalued the Naira. Nairametrics found from a reliable source that the CBN moved the rate of foreign exchange to Foreign Portfolio Investors (FPIs) from N366.70 to N380.20/USD.
In its continued intervention in the foreign exchange market, the Central Bank of Nigeria (CBN) injected a cumulative sum of $2.04 billion to further sustain the improved liquidity and relative stability in the market.
The Central Bank of Nigeria sold a whopping $36.6 billion in forex in 2018 according to a report released during the week on its website. This compares to $15.8 billion sold in 2017, a whopping 130% rise.
Analysts at Franklin Templeton Investments and BlackRock Inc are of the opinion that the Central Bank of Nigeria will be able to keep Naira stable.
The Central Bank of Nigeria (CBN) has instructed banks in the country not to charge customers commission when...
Frequent travellers in the country may have to come up with alternatives as some commercial banks have decided...