Money

Naira stable as CBN injects $100m FX

Ihesiulo Grace 23 May 2017 0

The Nigerian currency, the naira closed on Monday at N380 the same range it closed over the weekend against the Dollar at the parallel market, as the Central Bank of Nigeria (CBN) sold $100 million at a special wholesale spot and forwards auction, in order to improve dollar liquidity and ease

Business

Naira closes 387/$1 at parallel market

Ihesiulo Grace 27 April 2017 0

The Nigerian currency, the Naira on Wednesday was steady at 387 to a dollar at the unofficial foreign exchange market. At the official market, the naira closed at 305.90 against the US dollar, but at the interbank segment, the local currency, settled at 313.50 per dollar, the pound and Euro were traded at 401.75 and […]

News

Float your currency, U. S forex expert tells Nigeria

Ihesiulo Grace 21 March 2017 0

  Following the recent economic crises bedeviling Nigeria’s currency, a foreign exchange expert has advised the country to float its currency just like Egypt did. Although crude prices are a little above $50 per barrel nearly six months after OPEC’s oil cut in order to boost prices, still, prices are well below peaks above $100 […]

Business

Naira closes at 459/$1, as CBN sells forex at official market

Ihesiulo Grace 14 March 2017 0

The local currency, the naira on Monday gained a point to close at 459 per US dollar against 460 traded over the weekend at the parallel market, as the Central Bank of Nigeria (CBN) again sold dollar on the official interbank market. The naira, at the early hour of yesterday was seen bought at 456 […]

News

External reserves rises to $30bn, highest in 16 months

Ihesiulo Grace 13 March 2017 0

Nigeria’s foreign exchange reserves rose to $30. 038billion as of March 8 to record its highest level since the November 2015 figure of $30.049 billion, latest data from the Central Bank of Nigeria, CBN, has shown. This is even as the nation’s apex bank in the last four weeks injected a total amount of $1.237billion […]