Tag
FOREX
The naira depreciated at the parallel market despite the third round of forex allocation to BDCs.
Forex reserves remain just above $35 despite the pressure on the exchange rate
Buhari insists "no kobo" for food imports sending a loud message to CBN to ban forex for importation for food and fertilizer
Even though there was a little appreciation in the NAFEX window, the Naira depreciated at the black market.
The opening indicative rate was N386.48 to a dollar on Tuesday.
At the black market where forex is traded unofficially, the Naira depreciated against the dollar.
The Naira appreciated marginally against the dollar at the I&E window on Friday.
The Naira depreciated marginally against the dollar at the I&E window on Thursday.
$50 million was sold to foreign investors on the spot and forward market.
The Naira remained stable against the dollar to close at N440/$1 on Wednesday.
The Naira appreciated against the dollar to close at N440/$1 on Tuesday.
Forex traders are reportedly turning down offers to buy due to fear that the naira could strengthen again.