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BDCs reluctant to buy dollars as CBN pegs FX rate for invisibles at N360/$, injects $185m – Gistmaster

By Emma Ujah, Babajide Komolafe & Victor Ahuma-YoungLAGOS—The Central Bank of Nigeria, CBN, yesterday, directed banks to sell dollars for invisible transactions such as personal travel allowance, business travel allowance, school fees and others at N360 per dollar.For this purpose, the apex bank released  $85 million for sale to banks  N 357/$1 for onward sale […]

BDCs reluctant to buy dollars as CBN pegs FX rate for invisibles at N360/$, injects $185m

The Central Bank of Nigeria, CBN, yesterday, directed banks to sell dollars for invisible transactions such as personal travel allowance, business travel allowance, school fees and others at N360 per dollar. For this purpose, the apex bank released  $85 million for sale to banks  N 357/$1 for onward sale to retail end-users at not more […]

CBN’s New Naira Rate Wouldn’t Attract Investors To Nigeria’s Battered Economy – Analysts – World Street Journal

Analysts doubts whether Godwin Emefiele’s latest foreign exchange moves would draw investors back to Nigeria’s suffering economy. In reaction to Nigeria’s new naira exchange rate the Central Bank of Nigeria set on Monday for consumers with certain foreign expenses and stepped up dollar sales on the official market to narrow the spread with the black […]

CBN ADJUST FOREX POLICY,ORDERS BANKS TO REDUCE NAIRA DOLLAR RATE – Politics Today | Breaking News | Entertainment | News

The Central Bank of Nigeria CBN, has ordered commercial banks in the country to lower naira to dollar rate from 370 to 360 for sale of BTA, PTAs , medicals and schools today( Monday). It was reported that the Central Bank of Nigeria (CBN) had ordered the resolution of National Economic Council,NEC,to review […]

Cbn Orders Banks To Sell Dollar At N360 – Business

CBN ORDERS BANKS TO SELL DOLLAR AT N360source: http://www.eyesoflagos.com/2017/03/cbn-orders-banks-to-sell-dollar-at-n360.html In a bid to boost foreign exchange supply and keep the market liquidity, the Central Bank of Nigeria (CBN) has directed commercial banks to begin the sale of foreign exchange for Business Travel Allowance, BTA, Personal Travel Allowance, PTA, Tuition and Medical fees to customers at […]

Naira appreciates to N385/$ in parallel market

The naira yesterday maintained its upward performance against the dollar in the parallel market, appreciating to N385 per dollar. Vanguard survey reveals that the parallel market exchange rate dropped from an average of N390 per dollar last week to N385 per dollar at the close of business yesterday, implying N5 or 1.28 per cent appreciation […]

Analysts Doubt CBN’s New Naira Rate Would Attract Investors To Nigeria’s Battered Economy

Analysts Doubt CBN’s New Naira Rate Would Attract Investors To Nigeria’s Battered Economy The Streetjournal Analysts doubts whether Godwin …

CBN Pumps Another $85m Into Forex Market As Naira Gains – Business

CBN Pumps Another $85m Into Forex Market As Naira Gains by 989900: 8:44pm On Mar 27 To meet requests from customers for foreign exchange following its decision on Monday to set the upper limit of the exchange rate, the Central Bank of Nigeria, CBN, has released $85 million to banks for sale to customers.The forex […]

Business – Naira Gains 1.3% To 385/US1$ At Black Market | Nigerian Bulletin

Nigerian naira on Monday resumed trading on a bullish side as the currency closed at 385 to a Dollar at the parallel market. The currency gained 20 naira from 490 to 470 against the pound sterling but lost 5 naira to the Euro to close at 435 at the back market segment. At the official […]

Dollar to Naira Black market rate today Monday, 27/03/2017

  The Naira has continued to consolidate on it gains against the US Dollar. The rate for today Monday, 27th of March 2017 shows that the US Dollar traded at the parallel market at rate of N365/N390 to the Nigerian Naira. It would be recalled that at the end of last week it traded at […]

CBN sets naira rate for foreign school and medical fees

ABUJA/LAGOS, MARCH 27, 2017 – The central bank of Nigeria on Monday said it will sell the dollar to consumers needing to pay foreign school and medical fees at 360 naira after the local currency firmed sharply on the black market. It amount to an increase of arund 4 percent since it was last set. Nigeria […]

CBN Introduces New FOREX Rates, Dollar Now N360 For “Invisibles” – Business (3)

Re: CBN Introduces New FOREX Rates, Dollar Now N360 For “Invisibles” by einsteine(m): 12:08pm Is this not a devaluation? This is an increase in price by the Cbn. Re: CBN Introduces New FOREX Rates, Dollar Now N360 For “Invisibles” by YomiYarzo: 12:09pm This is another scam by CBN, It is a known fact that the […]

CBN to sell dollar to banks at N357, directs banks to sell at N360 : Nigeria

The Central Bank of Nigeria (CBN), on Monday said it would sell dollars to banks at N357 and direct them to sell to their customers at N360 with immediate effect. The apex bank, however, said the new rate would be for only customers’ basic travel allowance, school fees and medical treatment. In a statement issued […]

Expert advocates sustainability of CBN forex intervention

As the Central Bank of Nigeria intesnsifies moves to strengthen the naira, a financial expert and President, Chatered Institute of Bankers of Nigeria, Prof. Segun Ajibola, has urged the apex bank to sustain its policies. Prof. Ajibola explained that there was the need for the sustainability of the ongoing foreign exchange policies, if the CBN […]