nigerian naira

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    Business Naira Strengthens Against US Dollar Since CBN Floats Currency

    Nigeria’s naira, yesterday, rose against the dollar, heading for its first gain since starting to trade without a peg three days ago, as the central bank sought to stabilize the market by selling dollars. According to Data obtained from the Bloomberg terminal, the naira rose 0.7 percent to...
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    Business Naira Falls 0.5% to 286/USDollar Despite CBN’s $100m Intervention

    Naira fell for a third day of trading without a peg, even after the nation’s central bank said it was confident it had cleared a backlog of foreign-currency demand. The naira fell 0.5 percent to 286 per dollar by 8:40 a.m. in Lagos, the commercial capital, after weakening 0.7 percent Tuesday...
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    Business Naira Watch: Tracking Nigeria's Currency [Day 2]

    The naira plunged by 31 per cent to 288.85 against the United States dollar on Monday at the close of trading at the newly established interbank market. The local currency also depreciated at the parallel market where it closed at 346 to the greenback, down from around 330 and 335 on Friday...
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    Business Naira Watch: Tracking Nigeria's Currency [Day 1]

    Naira weakens to 24% to 260 against United States Dollar as of 11.06am in Lagos, commercial capital as Central Bank of Nigeria allows currency to trade freely, according to a data gathered from the Bloomberg terminal. Earlier the Naira weakened to N253 to a dollar as the operation of the inter...
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    Business Naira Weakens to N253/Dollar at the Interbank Market

    Nigeria’s naira weakened 22 percent to 253.50 per dollar after the central bank allowed the currency of Africa’s biggest economy to float freely on Monday. Demand for foreign currency has built up to about $3 billion since capital controls were imposed 15 months ago to defend the currency’s peg...
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    Business Nigeria: 4 Banks Meet CBN’s Criteria For Primary Market Dealers [See LIST]

    As the Central bank of Nigeria set to name the lead players in the foreign exchange market today, about fours banks have met the criteria set by the regulatory agency. The lead players would be known as Foreign Exchange Primary Dealers, FXPD. Though CBN’s guidelines indicated that about eight...
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    Business RFI: What Is Happening To The Nigerian Naira?

    Brenna Daldorph has penned down this opinion for the Radio France Internationale on the new foreign exchange policy of the Central Back of Nigeria. READ: Nigerians have been busy debating the government’s decision to ease currency controls, which have been blamed for stagnating the economy...
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    Business Nigerian Naira on Free Fall, Now N361/$1

    The naira yesterday continued its free fall against the dollar, as uncertainty grips the foreign exchange market over the delay by the Central Bank of Nigeria (CBN) in coming up with clear framework on how the new flexible FX policy would be implemented. The naira depreciated further to N361 to...
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    Business Nigerian Naira May Trade At N350 To Dollar

    The Nigerian currency is expected to trade around 350 Naira to the dollar in the coming days as uncertainty over the implementation of the Central Bank of Nigeria’s planned new flexible exchange rate policy persists. A meeting between the CBN Governor and local currency traders over the policy...
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    Business Naira Forwards Rise On Announcement of Flexible Exchange Rate

    Nigerian Naira forwards rose to 6-month non- deliverable 2.2% to 275 against the US Dollar at 4.38pm yesterday in London, according to a data obtained from the Bloomberg terminal after the Central Bank's Monetary Policy Committee voted to allow “greater flexibility” with exchange rate. The...
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    Business CBN/MPC Decision: 5 Things That May Happen To Nigerian Naira

    Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) meeting has retained MPR at 12%, CRR at 22.5% and Liquidity Ratio at 30% while it embraces flexibility in the foreign exchange market. Cash-reserve ratio left unchanged at 22.5%, Central Bank of Nigeria Governor Godwin Emefiele said...
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