Naira Reclaim 21% amidst Worrisome FX Market Volatility
Naira Reclaim 21% amidst Worrisome FX Market Volatility The Naira appreciated by 21.36% at the official currency market where the exchange rate closed at N864.29 …
Naira Registers Largest Unofficial Depreciation in FX Market
Naira Registers Largest Unofficial Depreciation in FX Market There is a bleak future for the naira as the exchange rate registered the largest unofficial daily …
CBN Withdraws FX Market Intervention for 6-Week
CBN Withdraws FX Market Intervention for 6-Week Exchange rates across FX markets have been left to forces of demand and supply for six weeks since …
FX Rates Worsen as Naira Struggles to Find Balance
FX Rates Worsen as Naira Struggles to Find Balance In the foreign exchange market, the Naira showed a lacklustre performance against the US dollar, depreciating …
Rising FX Demand Keeps Lid on Naira Upside
Rising FX Demand Keeps Lid on Naira Upside The Nigeria naira gained weight across foreign exchange markets as an invisible hand balanced demand and supply …
Paystack Sacks 33 Employees Amidst FX Pressure
Paystack Sacks 33 Employees Amidst FX Pressure Nigerian fintech start-up, Paystack is downsizing its team outside Africa, starting with the layoff of 33 employees in …
Naira Skids at Official Market, Nigeria Sees Fresh FX Inflow
Naira Skids at Official Market, Nigeria Sees Fresh FX Inflow The naira has lost weight twice this week as foreign currency demands continue to surpass …
Why Naira Regained Strength at FX Market – ABCON
Why Naira Regained Strength at FX Market – ABCON The Association of Bureau De Change Operators of Nigeria (ABCON), has revealed why the Naira is …
FG Plans New FX Rules By End Of 2023, Says Presidential Tax Committee
The Chair of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, says the Federal Government is planning to introduce new foreign exchange rules — including a crackdown…
Nigeria Is Expecting $10bn FX Inflows In Coming Weeks, Says Finance Minister
Nigeria is expecting a foreign exchange inflow of $10bn in the coming weeks, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said. He made the…
Naira Jumps on $10bn FX Inflow Expectation
Naira Jumps on $10bn FX Inflow Expectation The Nigerian naira appreciated by 1.9% to N793.34 against the United States (US) dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) amidst…
FX, Price Stability Interest Rate: CBN Fails on Policy Quality Tests
FX, Price Stability Interest Rate: CBN Fails on Policy Quality Tests The sustained depreciation of the Nigerian local currency, the naira, has worsened the Central Bank of Nigeria (CBN) scorecard…
CBN Lifts Forex Ban On 43 Items, To Intervene In FX Market
The Central Bank of Nigeria (CBN) has lifted the forex ban on 43 items and also promised to intervene in the FX market from “time to time”. The apex bank…
Naira Sinks over Unresolved FX Supply Pressures
Naira Sinks over Unresolved FX Supply Pressures The Nigerian local currency, the naira, is suffering from multiple FX market-related depression that has reduced its purchasing power significantly since the beginning…
Naira Gains 1.2% in Value as CBN Sells FX to Banks
Naira Gains 1.2% in Value as CBN Sells FX to Banks The Nigerian naira rebounded moderately at the Investors’ and Exporters’ foreign exchange window, a move that was supported by…
Naira Depreciates as FX Turnover Slumps by 59%
Naira Depreciates as FX Turnover Slumps by 59% The Nigerian naira depreciated to N774 per United States (US) dollar on Monday as about $165 million in foreign exchange (FX) turnover…
FX Loss: Analysts Differ on MTN Nigeria Earnings Outlook
FX Loss: Analysts Differ on MTN Nigeria Earnings Outlook Telecommunication giant, MTN Nigeria Plc (Ticker: MTNN) has continued to gravitate near N6 trillion in market capitalisation, racing towards reclaiming the…
Naira Slumps Amidst Large Decline in FX Trading Activity
Naira Slumps Amidst Large Decline in FX Trading Activity Exchange rate: The Naira slumped against the dominant foreign currencies despite the fact that the United States (US) dollar volume traded…
Naira: Nigeria Back to Square One as FX Gap Hits N170
Naira: Nigeria Back to Square One as FX Gap Hits N170 The Central Bank of Nigeria (CBN) may be back to square one as the gap between exchange rate quotes…
Exchange Rate Now N742 as FX Transactions Slide to $42.6m
Exchange Rate Now N742 as FX Transactions Slide to $42.6m The Nigerian naira exchange rate is now at N742 per the United States (US) dollar at the Investors and Exporters…