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Farooq

Posts Tagged "cbn"

HomePosts Tagged "cbn"

The Central Bank of Nigeria (CBN) on Monday injected the sum of $55m into the economy for Nigerians requiring foreign exchange (Forex) for Business/Personal Travel Allowances, tuition, and medical fees. The amount is part of $210m pumped into various segments of the foreign exchange market by the apex bank. A breakdown of the amount, released […]

Henry Boyo “As I speak to you, our external reserves stand above $31bn and that provides us with enough firepower to be able to defend the naira (N305=$1)” – CBN Governor, Godwin Emefiele, April 25, 2017 However, fast forward to January 2018 with reserves above $40bn, i.e. over 30 per cent increase since April 2017, […]

  • CBN

Nigeria’s central bank repaid a total of 340 billion naira ($1.1 bln) worth of treasury bills on Thursday instead of rolling them over, in a move to lower government borrowing costs, traders said. They included 131.4 billion naira worth of treasury bills issued by the Debt Management Office (DMO), while the balance was in open […]

LAGOS, Dec 13 (Reuters) – Nigeria’s foreign exchange market saw transactions worth $1.34 million at its interbank window on Wednesday at a rate of 314.50 naira per dollar, as commercial banks traded the local currency at below the central bank rate. The central bank has used a rate of around 306 to supply dollars to […]

By Chijioke Nelson The Central Bank of Nigeria (CBN) ended foreign exchange (forex) market transactions for the week with $303.9 million, as it earlier in the week, sold $210 million to sustain liquidity. This is the second week in succession that the apex bank exceeded a $500 million intervention in the past five weeks, running […]

By Obinna Chima The Central Bank of Nigeria (CBN) on Monday sold the dollars at N307 to the dollar for the first time on the official interbank market, according to the FMDQ OTC. Traders said the development could signal a gradual move to merge its multiple exchange rates. Nigeria’s convoluted exchange rate system has been […]

  • CBN

LAGOS, Dec 4 (Reuters) – Nigeria’s central bank on Monday weakened the naira marginally, selling dollars at 307 naira each for the first time on the official interbank market, in what traders say could signal a gradual move to merge its multiple exchange rates. Nigeria’s convoluted exchange rate system has been used to manage what […]

NAIROBI, Nov 30 (Reuters) – The Kenyan and Ugandan shillings are forecast to firm against the dollar in the next week to Thursday, while Zambia’s and Nigeria’s currencies are expected to hold steady, traders said. KENYA The Kenyan shilling could strengthen against the dollar in the coming week due to a rally in selected stocks […]

  • CBN

By Babajide Komolafe However, the naira depreciated by 5 kobo in the Investors and Exporters (I&E) window, while the amount of dollars traded dropped by 13 percent. In a statement announcing the intervention, Acting Director, Corporate Communications Department, CBN, Mr. Isaac Okorafor said: “$100 million was offered to the wholesale segment, while the Small and […]

The Naira on Tuesday maintained N362.5 to the dollar at the parallel market, the Newsmen reports. The Pound Sterling and the Euro closed at N480 and N430. At the Bureau De Change (BDC) window, the Nigerian currency was sold at N362 to the dollar, while the Pound Sterling and the Euro traded at N480 and […]