Nigerian naira falls 0.12% to U.S dollar at I&E window, trades flat at parallel market
Businessam Staff
May 17, 2018
The Nigerian naira recorded a 0.12 percent dip at the investors and exporters foreign (I&E) exchange window Thursday to settle at N361.22 to the U.S dollar. This is just as total turnover in the window dropped by 46.78 percent to $114.89 million, the lowest since 25th April. The transactions were consummated within the N314.50-N363/$ band. […]
Nigeria central bank injects $210m into forex market to boost lequidity
Businessam StaffMay 16, 2018
Nigeria’s central bank said Tuesday it has injected $210 million into the interbank foreign exchange market, extending efforts to boost liquidity and alleviate dollar shortages. The bank said in a statement it had released $100 million earmarked for the wholesale market, $55 million for small businesses and individuals, and $55 million for certain dollar expenses […]
Naira trades stable at parallel markets while money market rates surge as CBN mops up N291bn via OMO
Adesola AfolabiMay 10, 2018
The Nigerian naira closed flat at N363 to the United States dollar Thursday at the parallel market, while it depreciated marginally by 0.06 percent to N361.36 at the Investor and Exporter (I&E) FX window. Total volume sold in the I&E FX window rose by 167.41 percent to $500.37 million (highest since 5th April), consummated within […]
Nigeria’s central bank continues intervention in forex market with $210m
Businessam StaffMay 8, 2018
Nigeria’s central bank, the CBN, said on Tuesday it had intervened in the country’s foreign exchange market with as much as $210 million. It is at least the third week consecutively that the apex bank would be intervening in the market. The bank said in a statement that it offered the sum of $100 million […]
Nigerian naira trades flat against US dollar at unofficial parallel market
Businessam StaffMay 4, 2018
The Nigerian naira closed flat against the United States dollar at the parallel foreign exchange (FX) market on Thursday at N362, but appreciated by 0.01 percent to N360.46 at the official Importers and Exporters (I&E) FX window. Growth in total turnover in the I&E FX window turned negative by 48.87 percent to $185.36 million, traded […]
Nigeria central bank boosts FX market with $210m
Businessam StaffMay 2, 2018
The Central Bank of Nigeria (CBN), Wednesday, May 2, 2018, injected the sum of $210 million into the inter-bank Foreign Exchange market in continuation of its efforts to sustain liquidity in the market. The CBN offered the sum of $100 million to authorized dealers in the wholesale segment of the market. The Small and Medium […]
22nd OTC FX futures contract matures, settles on FMDQ
Businessam StaffMay 1, 2018
By Afolabi Adesola The 22nd over the counter (OTC) foreign exchange (FX) futures contract have matured and been settled on the FMDQ. With the maturity of the NGUS APR 25 2018 contract (notional amount, $660.49), the total value of contracts so far matured and settled on FMDQ, stands at $9.13bn, while a total of $12.03bn […]
Bullish outlook for naira ahead of CBN rate decision, economic data release
Businessam StaffApril 22, 2018
The local currency, the naira, would trade steady against international currencies ahead of Central Bank of Nigeria’s (CBN’s) rate decision and economic data released by the National Bureau of Statistics (NBS) this week, says Lukman Otunuga, research analyst at FXTM. “The upcoming trading week will offer investors fresh insight into the health of Nigeria’s economy, […]
CBN stabilises forex market with $210m intervention
Businessam StaffApril 18, 2018
Nigeria’s central bank (CBN) moved to stabilise the country’s foreign exchange market with an intervention of $200 million at the inter-bank sector of the market. The intervention was made in order to meet the requests of customers whose demand had exceeded what would ordinarily have been available. The statement made available to businessamlive,com showed a […]
Naira steady against dollar ahead of FOMC minutes
Businessam StaffApril 11, 2018
by Lukman Otunuga The Naira held its ground against the dollar Wednesday ahead of the anticipated U.S CPI reading and FOMC meeting minutes. It is certainly shaping up to be a painful week for the Greenback as lingering trade war fears and political uncertainty in Washington weigh heavily on the currency. If the […]