Naira Jumps on $10bn FX Inflow Expectation
Naira Jumps on $10bn FX Inflow Expectation The Nigerian naira appreciated by 1.9% to N793.34 against the United States (US) dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) amidst…
FX, Price Stability Interest Rate: CBN Fails on Policy Quality Tests
FX, Price Stability Interest Rate: CBN Fails on Policy Quality Tests The sustained depreciation of the Nigerian local currency, the naira, has worsened the Central Bank of Nigeria (CBN) scorecard…
CBN Lifts Forex Ban On 43 Items, To Intervene In FX Market
The Central Bank of Nigeria (CBN) has lifted the forex ban on 43 items and also promised to intervene in the FX market from “time to time”. The apex bank…
Naira Sinks over Unresolved FX Supply Pressures
Naira Sinks over Unresolved FX Supply Pressures The Nigerian local currency, the naira, is suffering from multiple FX market-related depression that has reduced its purchasing power significantly since the beginning…
Naira Gains 1.2% in Value as CBN Sells FX to Banks
Naira Gains 1.2% in Value as CBN Sells FX to Banks The Nigerian naira rebounded moderately at the Investors’ and Exporters’ foreign exchange window, a move that was supported by…
Naira Depreciates as FX Turnover Slumps by 59%
Naira Depreciates as FX Turnover Slumps by 59% The Nigerian naira depreciated to N774 per United States (US) dollar on Monday as about $165 million in foreign exchange (FX) turnover…
FX Loss: Analysts Differ on MTN Nigeria Earnings Outlook
FX Loss: Analysts Differ on MTN Nigeria Earnings Outlook Telecommunication giant, MTN Nigeria Plc (Ticker: MTNN) has continued to gravitate near N6 trillion in market capitalisation, racing towards reclaiming the…
Naira Slumps Amidst Large Decline in FX Trading Activity
Naira Slumps Amidst Large Decline in FX Trading Activity Exchange rate: The Naira slumped against the dominant foreign currencies despite the fact that the United States (US) dollar volume traded…
Naira: Nigeria Back to Square One as FX Gap Hits N170
Naira: Nigeria Back to Square One as FX Gap Hits N170 The Central Bank of Nigeria (CBN) may be back to square one as the gap between exchange rate quotes…
Exchange Rate Now N742 as FX Transactions Slide to $42.6m
Exchange Rate Now N742 as FX Transactions Slide to $42.6m The Nigerian naira exchange rate is now at N742 per the United States (US) dollar at the Investors and Exporters…