forex market
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Nigeria Nigerians Dismiss Tinubu's Aide Bayo Onanuga's Advice to Dump Dollar for Strengthening Naira
In a bid to assuage concerns over Nigeria's economic stability, President Bola Tinubu's special adviser on information and strategy, Bayo Onanuga, issued a resolute message to the public, urging swift action in response to promising developments in the currency market. Onanuga's assertion, made...- Nigeria News
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- 2 min read
- bayo onanuga exchange rate today forex market president tinubu
- Category: Politics
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Nigeria Naira Appreciates to N1,600/$, Prompting Analysis and Future Forecasts
The naira exhibited resilience as it appreciated to N1,600 per dollar at the parallel section of the foreign exchange (FX) market on Monday. This marked a notable 1.23 percent gain from the N1,620/$ reported just a day earlier on March 8. Bureau De Change operators in Lagos quoted buying rates...- Nigeria News
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- 1 min read
- economic implications financial news forex market goldman sachs naira surge
- Category: Business
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Nigeria Currency Woes: Naira Records Further Depreciation Against Dollar
The Nigerian Naira fell to N1,620 against the US Dollar at the parallel market, marking a N20 decrease from the start of March. Bureau de Change operators quoted buying at N1,600 and selling at N1,620. The official exchange rate saw the Naira dip to N1,627.40 against the Dollar, a 1.57% fall...- Nigeria News
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- 1 min read
- economic news foreign exchange forex market naira exchange rate nigeria currency depreciation
- Category: Business
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Nigeria Naira Crisis: CBN Set to limit Cash FX Transaction to $500
The Central Bank of Nigeria (CBN) is contemplating significant regulatory changes for Bureau De Change (BDC) operators, including a potential ban on street trading and restricting cash payments for foreign exchange (FX) sales to a maximum of $500. The proposed guidelines also require sellers...- Nigeria News
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- 1 min read
- bureau de change cbn forex market naira crisis yemi cardoso
- Category: Business
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Nigeria Naira Crisis: CBN target BDCs With N2 billion Licence Fee
Amidst a deepening forex crisis pushing the naira to a historic low of N2,000 against the dollar, the Central Bank of Nigeria (CBN) has implemented robust measures against Bureau De Change (BDC) operators. In response to the economic downturn, the National Security Adviser, Mallam Nuhu Ribadu...- Nigeria News
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- 1 min read
- bdc operators bureau de change cbn cbn governor central bank of nigeria efcc forex crisis forex market naira crisis yemi cardoso
- Category: Business
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Nigeria CBN's Efforts Ineffective as Naira Falls to N1960 against Euro
The Nigerian Naira has reached an unprecedented low, hitting N1960 per Euro in the black market, marking a significant decline of 5.36% from the previous day. This historic depreciation comes amidst persistent demand pressures and soaring inflation, which rose to 29.90%, as reported by the...- Nigeria News
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- 1 min read
- black market central bank policies forex market inflation surge naira exchange rate
- Category: Business
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Nigeria Ribadu Blames Naira Collapse on 'Dollar Racketeers'
National Security Adviser Nuhu Ribadu has issued directives to law enforcement agencies to crackdown on individuals engaged in foreign exchange market speculation, aiming to curb the steep depreciation of the Nigerian naira. Ribadu revealed that intelligence reports indicate currency...- Nigeria News
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- 1 min read
- efcc forex market national security adviser nuhu ribadu
- Category: Politics
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Nigeria Naira Nosedive: Closes Week at N1,537, Defying Central Bank Measures
In a tumultuous week for Nigeria's economy, the national currency, the Naira, experienced unprecedented depreciation, closing at N1,537.96 at the official market on Friday. This marks a significant milestone, as the currency surpassed the N1,500 threshold, showcasing the severity of its recent...- Nigeria News
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- 2 min read
- cbn cbn interventions forex market naira to dollar exchange rate
- Category: Business
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Nigeria CBN Cracks Down on Forex Malpractices: Ends Cash Payments for Travel Allowances
The Central Bank of Nigeria (CBN) has introduced a pivotal policy shift, instructing authorized dealer banks to discontinue the payout of Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) in cash. This directive, signed by Dr Hassan Mahmud, the Director of the Trade and...- Nigeria News
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- 1 min read
- cbn central bank of nigeria forex market travel allowance
- Category: Business
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Nigeria Economic Concerns as Naira Depreciates to N1,565/$ in Parallel Market, Widening Gap with Official Rates
The Nigerian Naira experienced fluctuations against the US dollar, reaching an intra-day high of N1,582 while witnessing a notable decline in forex turnover, plummeting by 56.58% to $117.87 million. Both official and black-market exchange rates saw a marginal decrease in the value of the Naira...- Nigeria News
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- 1 min read
- cbn reforms exchange rate today forex market naira fluctuations naira to dollar
- Category: Business
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Nigeria Economic Jitters as Naira Depreciates to N1,500: Parallel Market Struggles Against Dollar
The Nigerian naira witnessed a 3.45 percent depreciation on Wednesday, plummeting to N1,500 against the dollar in the parallel market. This marks a decline from the N1,450 recorded just two days prior, leaving currency traders, also known as Bureau De Change operators, with a narrow profit...- Nigeria News
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- 1 min read
- cbn currency depreciation forex market naira to dollar exchange rate nigerian naira
- Category: Business
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Nigeria Naira Bounces Back at Official Forex Window, Parallel Market Struggles
Amidst concerns over the Nigerian currency's volatility, the naira experienced a positive turn at the official forex window, strengthening by 1.09% to close at 1,419.86/$, following reassurances from the Central Bank of Nigeria Governor, Olayemi Cardoso. Last week saw the naira hitting an...- Nigeria News
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- 1 min read
- central bank of nigeria foreign exchange market forex market naira exchange rate nigerian currency
- Category: Business
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Nigeria Dollar Drought Forces Abuja BDCs to Suspend Business Indefinitely – Chairman Cites Digital Currency Influence
The Bureau de Change (BDC) operators in Abuja have declared the indefinite closure of their business premises starting from Thursday, February 1, 2024. The announcement, made by the Association's Chairman, Abdulahi Dauran, cites the scarcity of dollars as the primary reason for this decision...- Nigeria News
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- abuja business news bdc closure dollar scarcity forex market
- Category: Metro
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Nigeria Manufacturers Sound Alarm on Impending Price Escalations Amid Naira Depreciation
Manufacturers in Nigeria are bracing for a potential surge in commodity prices as the nation's currency, the naira, continues its downward spiral against the United States dollar. Since the removal of the rate cap by the Central Bank of Nigeria in June 2023, the naira has witnessed a significant...- Nigeria News
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- 1 min read
- cbn exchange rates forex market manufacturers association of nigeria naira depreciation nigeria economy
- Category: Business
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Nigeria Central Bank's $500 Million Boost Fails to Halt Naira's Dive, Reaches Record Low of N1,348.63/$1
Naira plummeted to a record low of N1,348.63 against the US Dollar on Monday, signaling a 33.87% decline from the previous Friday's closing rate of N891.90. This unprecedented depreciation, witnessed at the official NAFEM market, reflects the severity of the current economic challenges facing...- Nigeria News
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- 2 min read
- cbn exchange rate today forex market naira against dollar naira depreciation
- Category: Business
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Business Naira tumbles against US dollar at forex market - Daily Post
https://dailypost.ng/2024/01/17/naira-tumbles-against-us-dollar-at-forex-market/- Kayode Israel
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- Forum: Business News Links
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Nigeria Naira Drops to N1,250/$ in Parallel Market, Raising Economic Concerns
In a concerning economic development, the Naira witnessed a significant depreciation to N1,250 per dollar in the parallel market, marking a notable drop from N1,240 per dollar over the weekend. Concurrently, the Nigerian Foreign Exchange Market (NAFEM) recorded a similar trend as the naira...- Nigeria News
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- 1 min read
- exchange rates forex market nafem parallel market todays exchange rate
- Category: Business
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Business CBN Injects $205m Into Forex Market – Leadership Newspaper
The Central Bank of Nigeria (CBN) said it injected the sum of $205 million into the inter-bank Foreign Exchange Market, in its continued push to sustain liquidity in the sector on Tuesday, May 28. The CBN said authorised dealers in the wholesale segment of the market … Read more via...- Nigeria Business News
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Sponsored How To Successfully Invest In Forex? A Short Guide For Your Wealth Growing
It’s very important for newbies to understand the importance of developing his own successful trading strategy and following trading psychology rules. Every professional trader understands that it’s impossible to predict the 100% deal profitability, but one is able to increase the productivity...- justforex
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Business Forex: Central bank boosts Retail SMIS with $343.06 million – TODAY.NG
The retail Secondary Market Intervention Sales (SMIS) has received a boost of $343.06 million from the Central Bank of Nigeria (CBN), following the Bank’s intervention in the Foreign Exchange market on Thursday, June 14, 2018. Read more via TODAY.NG – https://ift.tt/2MtdOAr Get more...- curator
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