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Currency
Naira Strengthens to N1,534.9/$1 on Third Consecutive Day
yThe exchange rate between the naira and the dollar continued its upward trend for the third consecutive day,!-->…
Foreign Exchange: Market Records $584m Increase
The official Nigeria Autonomous Foreign Exchange Market witnessed a substantial boost, reaching $584 million in!-->…
Dollar Supply Surges, Naira Closes Week at N1435.53/$
In the official foreign exchange market, dollar supply witnessed a significant increase, rising by 180.59 percent!-->…
CBN Sets $1m Minimum Share Capital Requirement for IMTOs
The revised guidelines for the operation of IMTOs, officially released via the CBN's website and signed by Dr.!-->…
Banks Rush to Sell Excess FX Holdings Ahead of CBN Deadline
Commercial banks in Nigeria were in a frenzy on Thursday as they worked tirelessly to offload their surplus!-->…
CBN Orders Banks to Sell Excess Dollar Stock to Stabilise Exchange Rate
In a bid to stabilize Nigeria's volatile exchange rate, the Central Bank of Nigeria (CBN) has directed Deposit!-->…
BDC Operators Suspend Operations Due to Dollar Scarcity
Bureau De Change (BDC) operators in Abuja have announced the suspension of their operations due to the!-->…
Exchange Rate: Nigerian Naira Declines to N1, 531/$
The Nigerian naira experienced another decline on Tuesday in the official market, narrowing the disparity between!-->…
Dollar Gains Ground as Market Awaits U.S. Inflation Report
The U.S. dollar experienced a broad uptick on Monday, reflecting subdued risk appetite as investors awaited a!-->…
Manufacturers Lament over FGN’s 7BN Debt
The Manufacturers Association of Nigeria (MAN) predicted a tough start for manufacturers in 2024, especially in!-->…
Nigerians Express Disappointment on Transportation Cost Despite FGN’s…
Despite the Federal Government's initiative to provide a 50% fare rebate from December 21 to January 4, 2024,!-->…
NNPC and Marketers Clash Over Petrol Subsidy, PMA Proposes N1,200/Litre
Tensions have risen between the Nigerian National Petroleum Company Limited (NNPC) and fuel marketers, represented!-->…
Canadian Dollar Weakens Against USD Amidst Robust Greenback and Investor Caution
The Canadian dollar, known as the "loonie," has experienced a 0.5 percent decline against the US dollar, reaching!-->…
Canadian Dollar Weakens Against US Dollar, Influenced by Robust USD Dominance
The Canadian dollar, also known as the "loonie," has experienced a 0.5 percent decline against the US dollar,!-->…
Dollar Holds Near Six-Month Highs Amid Inflation Concerns and Fed Hawkishness
The dollar has stabilized near six-month highs, as ongoing signs of inflation in the United States continue to!-->…
Nigerian BDC Operators and CBN Head for Showdown Amidst Market Manipulation Claims
Bureau de Change (BDC) operators and the Central Bank of Nigeria (CBN) seem to be on a collision course as!-->…
Shilling’s Slide Spurs Currency Gains: Tier One Banks Record Substantial…
Tier one banks in Kenya have experienced a noteworthy surge in currency gains, amassing a total of Ksh 14.5!-->…
Dollar Retreats from 10-Week Highs as Risk Appetite Recovers Amid Bond Yield Surge…
The U.S. dollar has eased from its recent 10-week highs as global risk appetite rebounded following a jump in U.S.!-->…
Nigeria’s Central Bank Introduces Forex Price Verification System
The Central Bank of Nigeria (CBN) has launched a Foreign Exchange Price Verification System aimed at facilitating!-->…
Naira Strengthens Against Dollar Following CBN’s Forex Market Intervention
The Nigerian naira demonstrated strength against the US dollar, closing at 740.67/$ on the Investor & Exporter!-->…
FMCGs Report Significant Net Foreign Exchange Losses Amid Exchange Rate…
Major consumer goods companies in Nigeria, especially in the fast-moving consumer goods (FMCG) sector, have!-->…
Nigerian Central Bank Implements Measures to Counter Naira Decline and Speculative…
Amidst the recent depreciation of the naira in the parallel market, the Central Bank of Nigeria (CBN) has!-->…
Nigerian Central Bank to Rename Official Forex Market as Nigerian Foreign Exchange…
The acting Governor of the Central Bank of Nigeria (CBN), Folashodun Shonubi, announced that the official foreign!-->…
Ghana’s Inflation Reaches Four-Month High Amid Rising Food Costs
Ghana's inflation rate surged to 43.1% in July, marking the highest level in four months. The increase was!-->…
Naira Hits Record Low of N900/$1 on Parallel Market
The Nigerian naira has reached a record low of N900 against the US dollar on the parallel market, driven by a!-->…
Dollar Deposits in Kenyan Banks Reach New All-Time High as Shilling Depreciates
The value of dollar deposits in Kenyan commercial banks has reached a record high of Sh1.185 trillion by the end!-->…
Save Nigeria Movement Demands N2 Trillion Compensation for Consequences of Naira…
The Save Nigeria Movement (SNM) has called on the Central Bank of Nigeria (CBN) to compensate Nigerians with the!-->…
Nigerian Naira Continues Downward Trend Against Dollar, Central Bank Faces…
The Nigerian naira maintained its depreciating trend against the dollar, reaching 876/$ at the parallel market on!-->…
Nigerian Naira Appreciates Against Dollar in Forex Window
On Wednesday, the Nigerian naira appreciated against the US dollar on the Investor & Exporter forex window,!-->…
UK Adds Naira to “Pre-Approved Currencies” for Financing Nigerian…
The United Kingdom (UK) will include the Nigerian naira in its list of "pre-approved currencies" for financing!-->…