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Business CBN Boosts FX Supply With $240m To Stabilises Naira
The Central Bank of Nigeria (CBN) had last Friday, allocated the total sum of $240 million to the Retail Secondary Market Intervention Sales (SMIS) for spot and forward deals for the Eid Fitr holidays. The Bank, also confirmed the sale of forex to dealers in the Bureau de Change (BDC) segment...- ProfRem
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Business Nigeria: 23/06/2017 - Today's Naira Rate Against Dollars, Pounds and Euros
Nigerian naira on Friday sustained trading at the parallel and black market segments. Table below shows today's naira rate against dollar, pound and euro at the parallel and official market segments: ...- ProfRem
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Business Nigeria: 22/06/2017 - Today's Naira Rate Against Dollars, Pounds and Euros
Nigerian naira on Wednesday opened on the bullish side against the Euro and Pound at the parallel market. Table below shows today's naira rate against dollar, pound and euro at the parallel and official market segments:- ProfRem
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Business Nigeria: 21/06/2017 - Today's Naira Rate Against Dollars, Pounds and Euros
Nigerian naira on Wednesday sustained gain at the parallel market. The stability was attributed to weak demand for dollar and increased supply due to dollar sale to bureaux de change by the Central Bank of Nigeria (CBN). Table below shows today's (21/06/2017) exchange rate of the Nigerian...- ProfRem
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Business Nigeria: 20/06/2017 - Today's Naira Rate Against Dollars, Pounds and Euros
Nigerian naira on Tuesday opened trading flat at the parallel market. Table below shows today's (20/06/2017) exchange rate of the Nigerian Naira against the Dollar, Pound:- ProfRem
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Business Naira Expected To Firm Up As CBN Injects Another $418m Into FX Market
Nigerian naira is expected to firm up coming days as the Central Bank of Nigeria (CBN) again injected $418m into foreign exchange market. The intervention - came a day after the Apex bank injected about $413 million - which cut across various segments of the inter-bank forex market, was aimed...- ProfRem
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Business Nigeria: 13/06/2017 - Today's Naira Rate Against Dollars, Pounds and Euros
Nigerian naira maintained stability on Tuesday morning as the Central Bank of Nigeria intervened in the inter-bank foreign exchange market with $413.5 million on Monday. The move is part of efforts by the Apex bank to guarantee liquidity in the system. Table below shows today's (13/06/2017)...- ProfRem
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Business Naira Gains As CBN Sustains FX Intervention
Nigerian Naira continued to sustain gain at the parallel markets and move closer inch to converge with the Official market rate as the Central Bank of Nigeria (CBN) make steady interventions at the foreign exchange market. The CBN has since February been pumping in dollars in all segments of...- ProfRem
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Business Naira Gained 1.6% Last Week, Climbed 3-month High Against Dollar
Naira traded bullish last week gaining 1.57 per cent to exchange at N380 from N386 per dollar it opened on Monday in the parallel market. This development is coming as the CBN conducted its weekly Secondary Market Intervention Sales (SMIS) auction at the official foreign exchange market. CBN...- ProfRem
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Business Naira Rises To 391/USD, Crashes Against Pound At Parallel Market
Nigerian naira on Friday closed flat against the United States dollar at 391 and crashed to 500 from 495 against the pound sterling at the parallel market. The currency also depreciated by 2 naira to close at 422 against the Euro. Trading at the interbank market saw the Naira closing at...- ProfRem
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Business Naira Loses At Parallel Market, Trades 390 Per Dollar
Nigerian naira on Monday depreciated against the United Stated dollar to 390 per dollar, despite Central bank of Nigeria CBN, intervention to close forex margin between official and parallel market. The currency also depreciated against the Pound sterling and Euro at the street market to 495...- ProfRem
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Business Naira Recorded 5.2% Gain Against Dollar This Week
Nigerian naira recorded 5.19 per cent at the Bureau De Change, BDCs, market this week, following interventions in the foreign exchange market with dollars by the Central Bank of Nigeria. The currency firmed up at parallel market on Friday trading at N385 to the United States Dollar in Lagos...- ProfRem
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Business Naira Appreciates To 385 Per Dollar At Parallel Market
Nigerian naira on Thursday appreciated to 385 per dollar at the parallel market as Central Bank Of Nigeria, CBN, sold $20,000 to Bureax de Change (BDCs) for onward sale to small-end users. The currency gained 15 naira against the Euro to close at 410 from 425 and 5 naira from 500 to 495...- ProfRem
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Business Naira Booms, Gains 1.75% To Close At 400 Per Dollar
Nigerian naira on Wednesday extended gain at the parallel market, appreciating by 1.75 per cent to close at 400 against the United States Dollar. The currency remained stable against the pound sterling and gained 10 naira to close at 420 against the Euro. At the official market segment, the...- ProfRem
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Business Why Naira May Appreciate This Week
The Naira is expected to appreciate on the street this week, following the Central Bank of Nigeria’s plan to increase dollar sale to retail currency bureaus. The Central Bank is planning to raise dollar sales to Bureau De Change to $40,000 from the present $20,000, which will improve liquidity...- ProfRem
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Business Nigeria: Bureau De Change Operators Lose N130m As Naira Gains
Alhaji Aminu Gwadabe, the President, Association of Bureau De Change Operators of Nigeria (ABCON), has said that CBN-licensed BDCs incurred regulatory losses of 130 million naira this week. Gwadabe disclosed on Friday in Lagos that the losses were coming from the CBN’s disparity in applicable...- ProfRem
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