Nigeria’s external reserves up by 7% in 21 days, currency speculators to lose over N10 billion
It should be noted that Nigeria’s external reserves went on a downward slide last year, having lost $11.75 billion within a space of 10 months.
Tag: Foreign exchange market
Forex crisis: Those patronizing parallel market will lose money – CBN Governor
The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has warned firms and individuals against patronizing the parallel market, popularly called ...
Naira depreciates at the parallel market, closes at N437 to $1
Information obtained from Abokifx shows that the local currency depreciated to N437 to a dollar on Wednesday, May 6, 2020, ...
Naira to depreciate slightly over $1.52 billion forward contracts
Currency traders are expecting the naira to fall slightly today, due to the maturing $1.52 billion April 29 contract.
Naira hits N509 to $1 at forwards market, as demand for the U.S dollar climbs up
Nigeria's currency continued to depreciate at the forward market, as worries strengthened that the CBN might have to devalue the naira again.
Why COVID-19 can’t stop the US dollar
Even with the coronavirus pandemic having devastating impacts across the global market and wiping out trillions of dollars of assets, ...
Foreign investors trapped in the debt market as dollar scarcity persists
As the country’s external reserve faces more pressure, foreign investors have been held down in Nigeria’s debt market.
Naira crashes further at the parallel market due to dollar scarcity, lowest since 2017
The downward slide of the naira in the parallel market appears to be continuing unabated as the slump in crude oil prices
External reserves decline by over 8%, despite lower FX demand
Nigeria’s external reserves have continued to decline unabated as it shed $3.33 billion within the last 3 months.
Forex: Parallel market records lowest value since 2017
Naira has depreciated to its weakest level since February 2017 at the parallel market, which is also known as the ...
