Business Headlines

Forex, T-Bills, others record N99.5trn turnover in 7 months

Ihesiulo Grace 4 September 2018 0

…As 3 banks account for N44.90trn FX turnover …Investors trade $1.93bn forex in 6 days Foreign exchange transactions, Treasury bills, FGN Bonds and Other Bonds traded for a period of seven months from January to July 2018 have been put to a total value of N99.49 trillion, latest

Business Headlines

2019 Uncertainty: Low interest on bonds, others scare investors

Ihesiulo Grace 27 August 2018 0

…Investors FX window records turnover of $744m in 3 days …External reserves shed $244. 4m in one week Uncertainty surrounding 2019 elections, coupled with security concerns in different parts of the country and low interest rates on Federal Government (FGN) bonds, have all been linked to reasons investors are holding back their investments in the […]

Business Headlines

Forex trading, T Bills, others hit N86.4trn in 6 months

Ihesiulo Grace 6 August 2018 0

…Hike by N19.1tr to 22.1% in one year …As external reserves steady at $47.06bn Foreign exchange transactions, Treasury bills, Money Market, including Repurchase Agreements, Buy-Backs and Unsecured Placements/Takings, FGN Bonds, other Bonds and Eurobonds traded for a period of six months have been put to a total value of N86.40 trillion, checks by The Daily […]

Business Headlines

Forex transactions hit N26.57tr in 5 months

Ihesiulo Grace 27 June 2018 0

Nigeria’s Foreign Exchange (Forex) market which would in the next few days’ wrap-up transactions activities for the first six months in 2018 has recorded a whopping total traded value of N26.57 trillion between January and May this year, investigations by The Daily Times revealed. It is instructive to note that forex market represents a platform […]

Business Headlines

Forex transactions hit N15.32tr in 3 months

Ihesiulo Grace 16 April 2018 0

The total transactions value traded in the Foreign Exchange (Forex) market between January and March, 2018, settled at a whopping sum of N15.32 trillion, Investigations by The Daily Times revealed. The forex market, represents a platform in which participants are able to buy, sell, exchange and speculate on currencies, and is made up of banks, […]

Business Headlines

Naira strengthens at Investors window amid weekly forex injection

Ihesiulo Grace 9 April 2018 0

The Nigerian currency, Naira, at the end of trading activities at the Investors & Exporters Foreign exchange Window (I&E), last week, appreciated against the US Dollar by 0.05 per cent to close at N360.0, amid weekly injections by the Central Bank of Nigeria (CBN). The apex bank during the week under review lifted the Foreign […]

Headlines Sports

Investors boost FX market with $14.4bn in 3 months

Ihesiulo Grace 2 April 2018 0

…As external reserves rise by $7.4bn in Q1 In the first three months of 2018, the Investors and Exporters (I&E) FX window boosted Nigeria’s Foreign exchange market (Forex) with total liquidity of $14.457 billion, even as Nigeria’s external reserves during the same period gained $7.44 billion, due to the steady increase in global oil prices […]

Business

FXTM analyst makes currency, commodity calls ahead of ECB meetings

Ihesiulo Grace 8 March 2018 0

There was suspense in the air during Thursday’s trading session ahead of the European Central Bank policy meeting, says FXTM analyst, Lukman Otunuga. He said although markets widely expect the ECB to leave monetary policy unchanged in March, speculation remains elevated over the central bank dropping its “easing bias”, and notes that this move is […]

Business Headlines News

Investors’ turnover in Forex market hit $4.3bn in 4 weeks

Ihesiulo Grace 26 February 2018 0

.. As CBN injects $531.4m in one week Continuous huge transactions volume recorded in the last four weeks at the Investors and Exporters FX (I&E) window, has boosted the Nigeria’s foreign exchange market with a whopping total turnover of $4.3 billion in the last four weeks, Investigations by The Daily Times revealed. Also, in line […]

Business

Banks must sell forex at N360/$1- CBN

Ihesiulo Grace 14 February 2018 0

.. Stop commission, fees charges on forex sale The Central Bank of Nigeria (CBN) in a new circular has directed all Deposit Money Banks (DMBs) operating in the country to comply with the agreement of the Bankers Committee to begin sale of foreign exchange for invisibles at N360 per dollar, as well halt collection of […]

Business Headlines

Fixed income, forex turnover hit N11.7trn in January

Ihesiulo Grace 13 February 2018 0

. As forex, T. bills’ markets account for 76.74% total transaction Total transaction turnover in the Fixed Income and Currencies (FIC) markets for the month of January, 2018 amounted to N11.71trillion, representing a 1.28 per cent decrease or N0.15trn from the value recorded in December, 2017. Although, it increased by 28.17 per cent pr N2.57 […]

Business

Forex rates converge amidst depreciation projection

Ihesiulo Grace 8 February 2018 0

.As Investor’s widow closes at N360.31/$1 .Parallel market, banks close at N360/$1 .Official FX market at N305.80/$1 The Nigerian currency, Naira, on Wednesday, consolidated on the gains recorded at the various segments of the foreign exchange (Forex) markets, leading to a convergence of rates amidst depreciation projection against the United States dollar, between

Business Money

Naira stables as forex market lifted with $210m

Ihesiulo Grace 7 February 2018 0

Following the fresh injection of the total sum of $210 million into the interbank foreign exchange market, the Nigerian currency, Naira on Tuesday stabilised at the official FX market. As at close of yesterday trading activities, the naira stood at an unchanged rate of N305.80 per dollar at inter-bank foreign exchange market, the same rate […]

Business Money

Forex: Banks ordered to halt commission charges, harmonise FX rate at N360/$1

Ihesiulo Grace 7 February 2018 0

The Bankers committee of the Central Bank of Nigeria (CBN) has directed commercial banks operating in the country to stop commission charges from Nigerians on sales of Personal Travel Allowance (PTA), Basic travel Allowance (BTA), among others, as foreign exchange rate now hamonised at N360 to the US Dollar. The bankers committee, which includes all […]

Business

Naira drops against Pound, Euro unofficial FX market

Ihesiulo Grace 30 January 2018 0

…As CBN lifts forex market with fresh liquidity The Naira, on Monday settled low against the Pound sterling and Euro at N510 and 446, respectively , compared to N505 and N445 exchanged over the weekend at the unofficial forex market. This is even as the Central Bank of Nigeria (CBN) yesterday injected fresh foreign exchange […]

Business Headlines

Retail SMIs get $304.4m Forex

Ihesiulo Grace 28 January 2018 0

The Central Bank of Nigeria (CBN) has intervened in the Retail Secondary Market Intervention Sales (SMIS) of the inter-bank Foreign Exchange Market to the tune of $304,400,000.00. Figures obtained from the bank indicate that the sum, as in previous interventions, were in favour of interests in the agricultural, airlines, petroleum products and raw materials and […]

Business Headlines

$25.65bn Forex transactions boost investors’ confidence -Investigation

Ihesiulo Grace 8 January 2018 0

The Investors & Exporters (I & E FX) FX window as at close of 2017 recorded a whopping total transactions’ turnover of $25.65 billion in just nine months of operations in 2017, The Daily Times can authoritatively report. Due to low investors’ confidence and foreign exchange scarcity in 2017, the Central Bank of Nigeria (CBN) […]

Business

Forex restriction on 41 items yields results

Ihesiulo Grace 8 December 2017 0

The Central Bank of Nigeria (CBN) has said that restriction of access to Foreign Exchange (Forex) on the 41 items has had a positive impact on the economy. The Acting Director, Corporate Communications Department of the Bank, Mr. Isaac Okorafor, stated this on Friday at the CBN Fair and a sensitization programme held at the […]

Business

Naira gains at official market, records $179.8m turnover at NAFEX

Ihesiulo Grace 28 November 2017 0

The Nigerian currency, Naira, on Monday extended its gain over US Dollar at the official foreign exchange market, with closing rate of 305.80 against 305.85 traded on Friday and stronger than 305.90 sold the previous day. This is even as the Nigerian Autonomous Foreign Exchange (NAFEX) widow, recorded transactions turnover of $179.78 million at the […]

Business

Naira gains over Pound, Euro at parallel market

Ihesiulo Grace 24 November 2017 0

The Naira, at the end of Thursday’s foreign exchange trading activities, appreciated slightly against the Pound Sterling and Euro at the closing rates of 475 compared to 476 exchanged on Wednesday and 425 against 426 sold per Euro on the same period at the parallel market. Although, the local currency, was seen unchanged at 364 […]