Forex turnover dropped from $90.88 million on Wednesday, June 24, 2020, to $14.68 million on Thursday, June 25, 2020, representing a decline of 83.8%
As events in the oil market fallout, the US dollar hit a record high against the Naira in the non-deliverable forward's markets on Tuesday, April 21,...
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).
Nigeria’s external reserves depleted by $2.9 billion between August and September. This is reflected in the data obtained from CBN website.