Naira shows strength, faces uphill task at N1,500 resistance line
The Naira strengthened against the dollar on Friday, trading at N1,585/$ from N1,590/$ posted on Thursday in the parallel market. ...
Tag: FX market
Top 10 Banks that got highest FX from CBN’s latest Retail Dutch Auction
The Central Bank of Nigeria (CBN) recently conducted a Retail Dutch Auction System (rDAS) on August 6, 2024, in an ...
List of banks excluded from CBN’s retail Dutch Auction
Six prominent banks, including United Bank for Africa (UBA), Wema Bank, and Stanbic IBTC, were disqualified from participating in a ...
CBN sells $876.26 million at N1,495/$1 to 26 banks in latest Retail Dutch Auction
The Central Bank of Nigeria (CBN) has sold $876.26 million at N1,495/$1 to 26 qualified banks in its latest Retail ...
CBN sells $148 million to 29 forex dealers as naira faces demand pressure
According to a statement on Friday, the transactions, conducted on July 22 and 23, 2024, aim to provide much-needed stability ...
Senate rejects bill seeking to monitor, supervise transactions in the FX market
The Senate on Thursday rejected a bill seeking to amend the Foreign Exchange Act of 2004 to introduce provisions for ...
Nigeria receives 35% of Sub-Saharan Africa’s diaspora remittances in 2023
Nigeria emerged as a major recipient of diaspora remittances in Sub-Saharan Africa, capturing approximately 35% of the region’s total inflows ...
Dollar liquidity in Nigeria’s official market set for 5-month low in June 2024
The Nigerian Autonomous Foreign Exchange Market, NAFEM, is set to record its lowest foreign exchange (FX) turnover in five months ...
FX Crisis: Nigeria has already seen the worst of naira volatility, says Cardoso
The Governor of the Central Bank, Yemi Cardoso, stated that the country has already experienced the worst of naira volatility ...
Nigeria’s FX reserves hit a three-month high as exchange rate achieves stability
Nigeria's foreign exchange (FX) reserves have surged to their highest level since March 28, 2024, marking a significant financial milestone ...
