Tag
FOREX
He said a strong naira would discourage local producers
He argued that Nigeria's multiple exchange rate regime is problematic for investors
The bank PTA/BTA requests would be reduced to twice a year starting from next year
Sources at the BDC informed our correspondent that rates range between N790-N800/$1
Forex trading can be a difficult path that can potentially lead to massive losses and destitution rather than an easy path to riches
The exchange rate between the naira and dollar at the black market has depreciated by about 50% since the CBN banned dollar sale dollars to bureau de change operators
This is according to information from black market operators interviewed by Nairametrics
The depreciation of the naira has been attributed to increased demand for the dollar amidst continuous shortages
One year after the CBN effectively criminalized AbokiFX's actions and accused it of "economic sabotage", the Naira has lost 25% of its value.
Governor Godwin Obaseki has called for massive investment in Agriculture, especially oil palm as a strategic move to boost foreign exchange in Nigeria.
Customs agents have stated that the CBN's forex prohibition list and the crashing of the Naira is responsible for the declines in cargo volumes at Nigerian ports.
The exchange rate between the naira and the US dollar fell to N698/$1 on Thursday morning, 25th August 2022.