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Currency
Naira recovery now tackle inflation — BDCs
The Association of Bureaux de Change Operators of Nigeria has highlighted the positive impact of the naira's…
Naira appreciates to N1,280 against Dollar on parallel market
The naira's upward trajectory continues as the US dollar is currently trading at N1,280 on the parallel market,…
Super-sized liquidity returns to Nigeria’s FX market as daily trades near $1bn
Nigeria's foreign exchange market experienced its highest turnover in a single day since 2017 on Thursday, with a…
Naira strengthens as dollar supply increases at official market
Following the Central Bank of Nigeria's (CBN) decision to raise key interest rates, the Naira has seen further…
Yen on intervention watch; Asia shares creep higher
The yen remained near its weakest levels in decades on Thursday, but the threat of intervention by Japanese…
Naira Strengthens To N1400/$ At Parallel Market
Parallel market operators are now quoting a buy price of N1400/$1 for individuals looking to sell dollars,…
Yen Strengthens Against Dollar Despite BOJ Policy Shift
The yen saw gains against the dollar on Monday amidst indications that the Bank of Japan (BOJ) may exit negative…
Egyptian pound stable after devaluation, IMF deal
Egypt's currency remained stable at around 49.5 pounds to the dollar as the market opened on Thursday, following…
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…