The naira is likely to keep falling due to surging demand for the U.S dollar as Nigeria’s Central Bank begins Fx sales to Nigerian banks
Currency traders are expecting the naira to fall slightly today, due to the maturing $1.52 billion April 29 contract.
Nigeria's currency continued to depreciate at the forward market, as worries strengthened that the CBN might have to devalue the naira again.
The volatility of Nigeria’s foreign exchange market seems to be heading towards the 2015 crisis era as the naira has further depreciated to N450 to a...
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).
Interestingly, the dollar fell significantly against most major currencies on Tuesday, amid concerns that the currency had surged too quickly when safe-haven demand is dropping.
Naira depreciates to N410 per dollar as local currency weakens
Association of Bureau De Change Operators of Nigeria has given assurances to the public of continued sale of dollars at the official price
Investors are fleeing emerging markets in record numbers and piling into the safe-haven greenback with two emergency interest-rate cuts this month.
The general consensual expectation of the FOMC meeting from the Fed on its monetary policy stance in its September meeting was a 25bp interest rate hike; with a...