Tag
FOREIGN EXCHANGE MARKET
Information obtained from Abokifx shows that the local currency depreciated to N437 to a dollar on Wednesday, May 6, 2020, as against the N430 to a dollar, it sold the previous day.
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.
Even with the coronavirus pandemic having devastating impacts across the global market and wiping out trillions of dollars of assets, the US dollar is unaffected by the turmoil
As the country’s external reserve faces more pressure, foreign investors have been held down in Nigeria’s debt market.
The downward slide of the naira in the parallel market appears to be continuing unabated as the slump in crude oil prices
Nigeria’s external reserves have continued to decline unabated as it shed $3.33 billion within the last 3 months.
Naira has depreciated to its weakest level since February 2017 at the parallel market, which is also known as the black market.
Association of Bureau De Change Operators of Nigeria has given assurances to the public of continued sale of dollars at the official price
Over 100 Bureau De Change Operators were fined N5 million by the Central Bank of Nigeria for various infractions in the foreign exchange market.
The Central Bank of Nigeria (CBN) has debunked speculations making the rounds and suggesting that the naira is finally about to be devalued.
Nigeria’s External Reserves plunge to $40.03 billion as devaluation concerns brew