FX turnover crashes by 42.92% on first trading day in June
The Nigerian official foreign exchange (FX) market witnessed a significant downturn in turnover, crashing by 42.92% on Monday, June 3, ...
Tag: FX
Analysts cheer CBN’s ban on foreign currency collateral for Naira loans
CBN's ban on foreign currency collateral garners analyst support for economic stability and FX liquidity boost
Egypt doles out $1.5bn, begins repaying debt owed to foreign oil and gas companies
Egypt started paying off debts it owes foreign oil and gas companies operating in the country having set aside $1.5bn ...
Basic steps to hedge your local business against naira
The NGX's most recent earnings results reveal that PZ Cussons and Nigerian Breweries, among other blue-chip brands, FX exposures cost ...
CBN releases $500 million to clear more verified Forex liabilities
The Central Bank of Nigeria (CBN) has said that it has released 500 million dollars to various sectors in its ...
FX spot market posts $5.17 billion turnover in November -Report
Spot FX market turnover in November 2023 was $5.17 billion (N4.33 trillion), representing a Month-on-month (MoM) increase of 10.94% ($0.51 ...
Like a Yo-Yo: Naira descends to N841.14/$1 against dollar, mirroring market instability
The naira fell against the U.S. dollar at the official but gained marginally at the parallel market after the local ...
CBN ban on 43 items lifted: Rational move but still more like clearing the cobwebs
In our view a major factor contributing to the existence of the wide premium between the official and parallel market ...
How CBN can restore confidence to drive FX inflows — Zeal Akaraiwe
As the CBN's newly appointed governor assumed office, the primary task before the leadership of the apex bank will be ...
Fuel subsidy removal, new FX framework will support foreign investments in Nigeria – FocusEconomics Analysts
Analysts predict that eliminating fuel subsidies and implementing a new FX framework will encourage foreign investments in the country.
