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Farooq

Posts Tagged "central bank of nigeria"

HomePosts Tagged "central bank of nigeria"

The Central Bank of Nigeria, CBN has warned Nigerians against abusing the naira notes, especially at events. The apex bank said anyone caught abusing the currency will pay a fine of N50, 000 or risk six months in jail if convicted. This was disclosed on Friday by an official of the Currency Operation Department of […]

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 […]

The Central Bank of Nigeria (CBN) has reportedly injected $3.6bn into the forex market since February. NAN reports that the naira has appreciated by 30.3 percent since the Central Bank of Nigeria (CBN) began its interventions at the foreign exchange market. The naira had reached a peak at N520 earlier in the year before the […]

  • 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 […]

  • CBN

ABUJA, Nov 28 (Reuters) – Nigeria’s central bank said on Tuesday it had 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 […]

Dollar injections into the economy estimated at $9 billion since February have helped the Central Bank of Nigeria (CBN) to achieve long-term naira stability and curb volatility in the foreign exchange (forex) market, The Nation has learnt. The CBN has, in the last nine months, sustained its weekly dollar interventions in the forex market; a large part […]

The Naira on Tuesday traded at N362.5 to the dollar at the parallel market. Meanwhile, the Pound Sterling and the Euro closed at N476 and N426 respectively. At the Bureau De Change window, the Naira flattened at N362 to the dollar, while the Pound Sterling and the Euro closed at N476 and N426 respectively. Trading […]