Money

‘How Naira strengthens against dollar amid CBN interventions’

Ihesiulo Grace 3 September 2020 0

ABCON warns members ahead of forex sale resumption By Philip Clement Speculators in Nigeria’s foreign exchange market are expected to N6.24 trillion in Q2, by NBS to count huge losses as the Naira continues to surge against the dollar, following the interventions made by the Central Bank of

Economy

Naira strengthens against dollar

Ihesiulo Grace 20 August 2020 0

Barely 24 hours after the naira was forced to a downward trajectory by dollar scarcity, it bounced back, closing at ₦477 to a dollar at the parallel market in Lagos. According to reports, the Pound Sterling and the Euro traded at ₦608 and ₦550, respectively. READ ALSO: Naira declines as external reserves shed $2.69 billion […]

Business

Naira remains stable against dollar, other currencies at parallel market

Ihesiulo Grace 15 June 2020 0

Nigeria’s currency, naira, remained stable against the US dollar at the parallel segment of the foreign exchange market, last week. The Naira sold at N450 to $1 last week and has remained at this rate for the past working days, refusing to breach the N450 support levels. The stability of the naira is reinforced by […]

Business

Naira rebounds from speculated N420 per USD to N380.00/$1

Ihesiulo Grace 16 March 2020 0

…Stables at N306.95 /$ at CBN official rate The Nigerian currency, naira rebounded from the speculated rate of over N400 per United State Dollar traded during last week to close at an improved rate of N380 to the dollar at the parallel market. Although, the local currency still remained under pressure as it weakens by 5.3per cent […]

Business

CBN has not devalued Naira, to invoke sanctions on speculators

Ihesiulo Grace 13 March 2020 0

Motolani Oseni The Central Bank of Nigeria has said that it has not devalued the Naira and warned currency speculators and their collaborators that  the apex bank will invoke the full weight of applicable sanctions on any persons and authorised dealers found to be involved in such disruptive and speculative market behaviour The CBN in […]

Business

Naira down to N364.98/$ at Investors’ Forex Window

Ihesiulo Grace 6 January 2020 0

The pressure continued to mount on the Naira at the Investors and Exporters (I&E) foreign exchange window as it weakened 0.05 per cent to N364.98 against the Dollar on Friday. The currency opened at N364.60 in I&E Forex window, traded high at N366.00 and eventually closed at N364.98, as investors traded a total of $19.05 […]

Business

Naira stables as inter-bank FX market is lifted with $311.5m

Ihesiulo Grace 7 October 2019 0

The Nigerian currency, Naira, at the close of the official trading activities for the week on Friday remained stable, as the Central Bank of Nigeria (CBN), injected a total sum of $311.5 million in the Retail Secondary Market Intervention Sales (SMIS) and CNY 15million in the spot and short-tenored forwards segment of the inter-bank foreign […]

Banking Business Money Money

Naira gains as CBN’s interventions hit $13bn in 1yr

Ihesiulo Grace 3 September 2019 0

Temitope Adebayo The Nigeria’s local currency, Naira, at the Investors and Exporters (I&E) FX window has appreciated by 0.06 per cent to close at N362.73 to the US Dolar, even as the volume of the Central Bank of Nigeria’s (CBN’s) interventions in the retail secondary market intervention sales (SMIS) hit the sum of $13 billion […]

Agriculture Banking Business Capital Market Capital Market

Forex restriction: Agriculture sector can provide 50 million jobs – NASME

Ihesiulo Grace 20 August 2019 0

The Nigerian Association of Small and Medium Enterprises (NASME) has stated that the agriculture value chain can provide over 50 million jobs if the Federal Government stops forex restriction as well as place an outright ban on food import. The Chairman of Agricultural Group of NASME, Lagos Chapter, Adam Adebayo made this suggestion in Lagos […]

Banking Business

Naira appreciates by 0.1% at I&E FX window

Ihesiulo Grace 6 August 2019 0

Motolani Oseni The Naira at the Investors & Exporters Foreign Exchange (I & E FX) on Monday appreciated by 0.1 per cent to close at N362.21 against the Dollar from N361.60 it opened for trading. According to the FMDQ Securities Exchange, the local currency traded high and low at N 364.00 and N310.00 against the […]

Business Money Money

Forex: Naira gains marginally at official, parallel markets

Ihesiulo Grace 23 July 2019 0

…As traders eagerly awaiting outcome of MPC meeting today Motolani Oseni The Nigerian currency, Naira at the close of yesterday trading activities strengthened against the US Dollar at both the official and unofficial foreign exchange markets. This is even as activities at the market on Monday remained slow, due to the anticipation of the likely […]

Business

Nigeria records $6.5bn total direct remittances in 4 months

Ihesiulo Grace 7 June 2019

Motolani Oseni At the end of the first four months in 2019, Nigeria has recorded a total sum of $6.5 billion in total direct remittances, against $2.42 billion reported during the corresponding period in 2018, the latest data from the Central Bank of Nigeria (CBN) has revealed. The Apex bank international payment data, however, showed […]

Business

Naira stables against dollar across Forex segments

Ihesiulo Grace 10 May 2019

The Naira on Thursday remained stable across foreign exchange segments, including the parallel market, where it closed against the US Dollar at N359.3. The Pound Sterling and the Euro traded at N472 and N402, respectively. At the Bureau De Change (BDC) window, the naira was sold at N360 to the dollar, while the Pound Sterling […]

Business

ABCON backs CBN’s monetary policy, financial stability roles

Ihesiulo Grace 6 March 2019 0

The Association of Bureaux De Change Operators of Nigeria (ABCON) has reinforced its support for the Central Bank of Nigeria’s (CBN) financial stability and monetary policy functions. In a statement released yesterday, ABCON President, Alhaji (Dr) Aminu Gwadabe said the apex bank under Governor Godwin Emefiele has achieved financial stability and promoted monetary

Business

China, Nigeria seal currency swap deal

Ihesiulo Grace 3 May 2018 0

China’s central bank said Thursday that it has inked a currency swap agreement with its counterpart in Nigeria. The agreement will allow the two sides to swap a total of 15 billion Chinese yuan (2.35 billion dollars) for 720 billion Nigerian naira, or vice versa, in the next three years, the People’s Bank of China […]

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 […]

Business Money

Naira gains at official FX, loses against Euro at official FX

Ihesiulo Grace 13 March 2018 0

.As I&E window records $201.2m turnover The Naira, on Monday, 12 March, 2018, appreciated slightly against the US Dollar to close at N305.75 against N305.80 and N305.85 traded throughout last week at the official spot market, but remained stable at N362 at the parallel segment of the forex market, even though it dropped two point […]

Business

Naira ends trading week stable amid $355.43m forex injection

Ihesiulo Grace 11 March 2018 0

The Nigerian currency, Naira, at the close of trading week remained stable amidst injections of $355.43 million to the Retail Secondary Market Intervention Sales (SMIS) of the foreign exchange market by the Central Bank of Nigeria (CBN. As part of its efforts to boost liquidity and alleviate dollar shortages, the apex bank had on Friday […]

Business Money

Naira gains at official FX market, strengthens against pound

Ihesiulo Grace 7 March 2018 0

The Naira, on Tuesday, 6 February, 2018, appreciated against the US Dollar at the official spot Foreign Exchange (Forex) market and strengthened further over the Pound sterling at the parallel segment of the FX market. The close of yesterday’s trading activities saw the local currency at the Central Bank of Nigeria’s (CBN’s) spot market gained […]

Money

Naira strengthens as investors lifted FX market with $10bn

Ihesiulo Grace 5 March 2018 0

The Naira, at the close of trading week strengthened against the US Dollar at the Central Bank of Nigeria (CBN) spot market, Investors & Exporters Foreign Exchange (I&E) FX window and the parallel segment of the forex market, findings by The Daily Times findings has showed. In the first two months of this year, the […]