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Business Naira Hits 363 Per Dollar As CBN Pumps $195m Into FX Market
Nigerian naira appreciated to 363 naira to the dollar at the parallel market as Central Bank of Nigeria, CBN, continues to mop up liquidity in the forex exchange market. The currency on Thursday, however, dropped 0.02 per cent at the CBN official market to 305.65 naira to a dollar. At the I&E...- ProfRem
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Business How Pumped $9.96Bn To Save FX Market In 6 Months
The Central Bank of Nigeria (CBN) has injected $9.964 billion into the interbank segment of the foreign exchange (forex) market since it commenced its aggressive interventions in February this year, according to Thisday compilation.. The intervention has helped to ease pressure on Nigeria’s...- ProfRem
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Business How Nigerian Naira, Stocks Market Reacted to Buhari's Return
Equities Market: Nigerian equities market closed on Monday on a negative note, as All Shares Index depreciated by -0.91% to close at 36,584.44 basis points as against 1.66 per cent appreciation recorded previously. Thos result is coming as President Muhammadu Buhari resumed office of Monday...- 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 Gains 0.15% To Close At 305/$1 At Official Market
Nigerian naira on Thursday appreciated by 0.15 per cent against the dollar to close at 305.25 at the official market but depreciated at the parallel market to 370 to the dollar. The investors and exporters forex window rate opened at N372.03 and closed at N365.07, according to tag on the FMDQ...- 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 BDC Operators Lament As Nara/Dollar Rates Converge At FX Markets
Nigeria's Bureaux de change (BDCs) operators have lamented that convergence of parallel and black market rates thereby calling on the Central Bank of Nigeria, (CBN) to review the rate band for BDCs. Aminu Gwadabe, president, Association of Bureaux De Change Operators of Nigeria (ABCON) said the...- ProfRem
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Business Naira Appreciates By 2.1% To Close At 374 Per Dollar
Nigerian naira on Thursday appreciated by 2.13 per cent to close at 374 against the United States dollar at the parallel market as Central Bank of Nigeria, CBN intensify efforts to protect the value of the currency. The currency maintained rate at 490 and 422 against the Pound sterling and Euro...- ProfRem
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Business Naira To Strengthen Further – BDC Operator
Lagos-based Bureau De Change (BDC) operator, Alhaji Nasiru Ibrahim Gulma has hailed the Central Bank of Nigeria (CBN) interventions in the foreign exchange market. Alhaji Gulma said if everybody can follow the normal procedure, the naira would witness more appreciation. He said one dollar...- ProfRem
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Business Naira Strengthens to 381 Per Dollar At Parallel Market
Nigerian naira opened trading on Friday on the bullish side, rising to N375 per dollar in the parallel market in response to increased dollar supply and decline in demand. Recall that the parallel market exchange rate which had been stable at N385 per dollar since last week dropped to N375 per...- ProfRem
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Business CBN Floods Forex Market With $457m
The Central Bank of Nigeria (CBN) on Monday injected $457.3 million into various segments of the market. Isaac Okorafor, CBN spokesperson, in a statement in Abuja, said that both the spot and forwards segments garnered $267.3 million while the wholesale segment got $100 million. Okorafor said...- ProfRem
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Business Naira Gains 1.03% To Close At 386 At Parallel Market
Nigerian naira on Friday gained 1.036 per cent to 386 at the parallel market after the Central Bank of Nigeria (CBN) sold treasury bills to soak up liquidity from the banking system in a bid to curb pressure on the local currency. The currency remained against the Pound sterling and Euro to...- 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 Nigeria’s Foreign Reserves Climb 19-Month High
Nigeria’s foreign exchange reserves rose to $30.8bn in April, the highest level since September 2015. The increase could be attributed to a recent rise in global crude oil price, and proceeds of the country’s Eurobond, issued in march. Data from the Central Bank shows that Nigeria’s forex...- 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 To Gain More Strength As CBN Sell $20,000 To Each BDC Operators
Nigerian naira is set gain more momentum as the Central Bank of Nigeria (CBN) will today, sell $20,000 to Bureax de Change (BDCs) for onward sale to small-end users. Following its injection of $280 million into the Foreign Exchange Market on Tuesday, April 18, 2017, the Central Bank of Nigeria...- ProfRem
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Business Naira Gains Against US Dollar At Parallel Market
Nigerian naira on Thursday gained 0.25 per cent to 397 against the United States dollar at the parallel market as Central Bank of Nigeria continues to fight market speculators and currency hoarders. The currency closed flat at 485 against the Pound sterling but depreciated by 20 naira to 420...- ProfRem
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Business Naira Crashes, Loses 2% To 398 Per Dollar
Nigerian naira on Wednesday crashed at the parallel market to 398 per dollar despite Central Bank of Nigeria intervention at the forex market. The currency lost 2 per cent against the greenback. The currency also depreciated to 485 against the Pound sterling but maintained rate at 415 to the...- ProfRem
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Business How Nigerian Naira Performed This Week
Nigerian naira closed flat on weekly trading as Central Bank of Nigeria, CBN on Monday adjusted by reviewing the naira-dollar rate for travelers, students and Medical fees from 376 to 360 and ordered to start honoring the new rate with immediate effect. The currency opened trading on Monday...- ProfRem
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Business Naira Appreciates Further, Now At 390 Per Dollar
Nigerian naira on Friday ended the week trading bullish as the currency trades 390 per US dollar at the parallel market. The currency also appreciated further against the Pound sterling and Euro at the parallel market to close at 490, 430 respectively. At the official market, the currency...- ProfRem
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