The exchange rate disparity between the official and back market rate widened on Monday.
The possibility of further devaluation and weak economic outlook has stalled foreign portfolio inflows.
Naira appreciated to N453 to a dollar on Thursday, May 28, 2020, which represents a N2 gain when compared to the N455 to a dollar that...
CBN's Godwin Emefiele had recently advised businesses and individuals to stop patronizing operators in the parallel market because they heating up the foreign exchange market.
The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has warned firms and individuals against patronizing the parallel market, popularly called the black market.
Naira weakened today at the black market as dollar trading at N454 to $1 as demand increased from foreign investors and businesses with dollar payment
These follow recent pronouncement by the CBN that it is ready to provide forex for investors who wish to repatriate funds from the country
Manufacturers have confirmed dollar scarcity is real and no one knows when this will end.
The Naira has appreciated to N386.94 against the US dollar at the Investor and Exporters (I&E) window.
Nigeria’s 5 years onshore Non-Deliverable forward contract posted its biggest drop by plunging 27% from N413.36 to close at N569.69.