The foreign reserve has depleted to $32.29 billion, which is a six-year low in the Central Bank’s course to save the naira. This is the lowest level the reserves have been since September 25, 2017, when it was $32.28 billion.…
Reports reaching Nigerian NewsDirect on Tuesday revealed that the Naira appreciated against the dollar significantly in some segments of the parallel market. A Bureau de Change operator who spoke to NewsDirect said he was trading a dollar to naira for…
The Naira appreciated to N1000 per US dollar as Monday’s foreign exchange market commenced. A Bureau De Change operator, Mistila Dayyabu, disclosed this to the newsmen. According to the BDC operator, the Naira is expected to appreciate further below the…
The Naira on Friday experi enced huge appreciation at the official market, trading at N1,142.38 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed…
The Naira on Friday experienced huge appreciation at the official market, trading at N1,142.38 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that…
The Central Bank of Nigeria (CBN’s) directive stopping the use of Non Export Domiciliary Account Collateral for naira loans will boost dollar liquidity, support reserves accretion and strengthen the financial services sector, President, Association of Bureaux De Change Operators of…
The Nigerian naira has continued its upward trajectory, reaching a rate of 1,200 against the US dollar on the black market following an adjustment by the Central Bank of Nigeria (CBN). This marks a significant appreciation from the previous rate…
…Apex Bank prohibits use of Foreign currency as collateral for loans In a decisive move to tackle currency volatility, The Central Bank of Nigeria has once again announced the sale of dollars to Bureau De Change (BDC) operators, according to…
The naira continued its weeks-long appreciation against the dollar in the foreign exchange market amid the Central Bank of Nigeria’s fresh effort to defend the currency. FMQD data showed the exchange as N1, 230.61 per US dollar on Monday from…
The Naira on Friday strengthened at the official market, trading at N1,251.05 to a dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the Naira…
