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Forex | CBN directs banks to sell at N360 to $1, See Why

Dedicated to reducing the torments of retail Foreign exchange (forex) consumers, the Central Bank of Nigeria (CBN) on Monday guided all banks to quickly start the offer of forex for BTA, PTA, tuition and medicinal expenses to clients at not more than N360 per dollar, from the N380 to the dollar it was sold previously. […]

Sell 1 dollar at N360 – CBN orders commercial banks

The Central Bank of Nigeria, CBN, on Monday directed all deposit money banks to immediately commence the sale of foreign exchange to their customers at N360 to the dollar. In a statement by the apex bank spokesperson, Isaac Okoroafor, all customers requesting forex for their basic transport allowance and personal transport allowance, tuition and medical […]

Nigeria exchange bureaus incur FX losses as black market naira firms -bureaus’ head | Reuters

LAGOS, March 27 Nigerian exchange bureaus have incurred forex losses from dollars sourced via the central bank after the value of the naira on the black market rallied following interventions on the official market, the bureaus’ head said on Monday. Bureaux de Change operators sold dollars bought from the central bank to individuals at 399 […]

CBN Upbeat About Further Naira Appreciation

[This Day] The Central Bank of Nigeria (CBN) has expressed optimism that the United States dollar would crash further this week as it plan to carry out …

Suicidal defence of the naira – Edo State News Online

By Henry Boyo THE awareness of the correlation between lower naira exchange rates and increasing poverty motivated the “Save the Naira, Save Nigerians!” by-line in articles in this column since 2004. Despite the obvious debilitating impact of Naira devaluation on inflation, domestic industries, employment and social welfare, the Central Bank of Nigeria (CBN), recently, brazenly […]

Suicidal defence of the naira

By Henry Boyo THE awareness of the correlation between lower naira exchange rates and increasing poverty motivated the “Save the Naira, Save Nigerians!” by-line in articles in this column since 2004. Despite the obvious debilitating impact of Naira devaluation on inflation, domestic industries, employment and social welfare, the Central Bank of Nigeria (CBN), recently, brazenly […]

Suicidal defence of the naira – Gistmaster

By Henry BoyoTHE awareness of the correlation between lower naira exchange rates and increasing poverty motivated the “Save the Naira, Save Nigerians!” by-line in articles in this column since 2004.Despite the obvious debilitating impact of Naira devaluation on inflation, domestic industries, employment and social welfare, the Central Bank of Nigeria (CBN), recently, brazenly   declared […]

Naira: Official, black market rates gap narrows over CBN interventions | TheCitizen

The gap between the official  and the black market rates narrowed at the weekend, after the local currency firmed to N380 per dollar on the black market on Friday. On the official interbank market, the currency was quoted N307 over the weekend. February’s partial devaluation effectively created multiple exchange rates in the economy. The naira, […]

Official, black market rates gap narrows over CBN interventions

The gap between the official  and the black market rates narrowed at the weekend, after the local currency firmed to N380 per dollar on the black market on Friday. On the official interbank market, the currency was quoted N307 over the weekend. February’s partial devaluation effectively created multiple exchange rates in the economy. The naira, […]

Banks get dollar surplus as CBN offers $100 million — Business — Breaking News, Nigeria News and World News – The Guardian Nigeria

Banks had earlier made bids worth $91 million, CBN on its part offered $100 million and the lenders ended up picking $81.35 million, leaving about $18 million for the apex bank. Interbank lending rates moderate after hitting 100% The Central Bank of Nigeria (CBN) ended the week with a fresh dollar intervention at the interbank […]

Uneasy calm in currency market as ABCON raises alarm

The currency market is enveloped with uncomfortable atmosphere as the Association of Bureau De Change Operators of Nigeria (ABCON), has warned that currency speculators are in for a bad season as they stand to lose billions of Naira to the new Foreign Exchange (forex) policy of the Central Bank of Nigeria (CBN). The association through […]

Bureaux de Change at risk as naira gains more muscle – Edo State News Online

Business seems bad for Bureaux De Change (BDCs) — no thanks to the naira’s new strength that has hit them with heavy losses. The naira has strengthened below N381 to the dollar, the rate at which BDCs buy International Money Transfer Operators (IMTOS) cash from the Central Bank of Nigeria (CBN). The naira exchanged at […]

Official, black market rates’ gap narrows over CBN’s interventions – Welcome to Naijadailyfeed’s Blog

The gap between the official  and the black market rates narrowed at the weekend, after the local currency firmed to N380 per dollar on the black market on Friday. On the official interbank market, the currency was quoted N307 over the weekend. February’s partial devaluation effectively created multiple exchange rates in the economy. The naira, […]

Banks lose N1trn current account deposits in February – Gistmaster

By Babajide KomolafeTOTAL current account deposits of banks fell by N1 trillion in February, implying banks generated fewer deposits during the month due to the biting effect of the economic recession.BankThis was one of the highlights of the Depository Corporation survey for February 2017 recently published by the Central Bank of Nigeria (CBN). Among other […]