Foreign Exchange Archives

Foreign Exchange: FX demand backlog, Naira gains against the dollar at I&E window, forex liquidity up by 66%

Currencies2 weeks ago

Foreign Exchange: FX demand backlog

The possibility of further devaluation and weak economic outlook has stalled foreign portfolio inflows.

CBN, GTBank, CBN disagrees with IMF, says land border closure boosting local production, Border closure: Emefiele says Benin, others must engage Nigeria before borders are reopened , bvn 2.0, CBN reveals banks’ foreign assets rise to N14.19 trillion in 2019

Business News1 month ago

CBN’s MPC unlikely to cut rates, as Nigeria’s foreign reserves hit $36.16 billion

Note that Nigeria's inflation could potentially rise to 14% by the end of the year due to a higher VAT and a weakened naira.

dollar, Foreign Direct Investment, Global Investment, Naira appreciates at I & E window, hits N384 to $1

Business News2 months ago

Naira appreciates at I&E window, hits N384 to $1

CBN intervenes in the foreign exchange market, the local currency, naira, on Monday May 4, 2020, appreciated against the dollar

Economic Growth, CBN, Governor, Emefiele, CBN releases new capital base, sanctions for Microfinance Banks, Nigerian Banks broadly positive after naira devaluation, Naira hits N465 to $1, Central Bank begins disbursing $100million to hit at currency speculators

Business News2 months ago

CBN restarts dollar sales to SMEs, students, PTA

"There is therefore no need for panic by any end-user that could necessitate recourse to illegitimate sources and spike in foreign exchange rates."

Central Bank Continues intervention in Forex market to stabilize Naira, Naira to depreciate slightly over $1.52 billion maturing contracts expires, Naira hits N388.84 to $1 at the currency spot market, Investors and Exporters (I&E) window, Naira weakens against the dollar by 1.14% amidst uncertainty, Naira gains against the dollar at I&E window, forex liquidity up by 242%

Business News2 months ago

Naira crashes to N450 to $1 at parallel market amid fx scarcity

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...

Business News5 months ago

CBN restricts forex for milk import to Nestle, Chi, Friesland, 3 others

Central Bank of Nigeria (CBN) has restricted foreign exchange for milk importation to six companies in Nigeria to boost local production.

UBA, LCCI partner to create value for SMEs at 2019 Lagos Int’ Trade Fair

Business News9 months ago

Milk Import: Experts advise CBN on FX restriction

Industry experts have advised the CBN to consider consulting stakeholders before effecting the ban on access to forex for milk importers.

CBN issues guidelines to Finance Institutions on establishment of Subsidiaries and SPVs, CBN injects $2.63 billion to defend naira in one month, CBN’s COVID-19 N50 billion targeted credit facility, CBN’s heterodox policies buoys credit growth

Business News10 months ago

CBN injected $2.63 billion to defend Naira in one month

As part of its continued intervention in the foreign exchange market, the Central Bank of Nigeria (CBN) injected a cumulative sum of $2.63 billion to further sustain relative...