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Farooq

Posts Tagged "forex crises"

HomePosts Tagged "forex crises"

Oyetunji Abioye The naira may depreciate against the United States dollar at the Investors and Exporters Window to 386 from the current average of 360, PricewaterhouseCoopers has said. In its economic outlook for 2018, which was released on Tuesday, the professional services firm said increased foreign exchange demand ahead of the 2019 general election might […]

  • CBN

Financial experts have identified some reasons for the gradual depreciation of the naira in spite of series of interventions by the Central Bank of Nigeria in the foreign exchange market. The experts told the News Agency of Nigeria on Wednesday in Lagos that a single market rate, among others, was required to reverse the depreciating […]

  • dollar to naira

By Oludare Mayowa LAGOS, July 10 (Reuters) – Nigeria’s currency window for investors and exporters has traded around $3.83 billion since it was established on April 24, traders said on Monday, with the naira trading more strongly than on the black market. The window, where buyers and sellers are free to agree an exchange rate, was […]

  • dollar to naira

A year after Nigeria scrapped a currency peg that sent foreign investors fleeing, it’s still battling to entice them back. But trying to placate investors by introducing multiple exchange rates isn’t going to work, bond funds and Wall Street lenders including Citigroup Inc. say. To end the dollar shortage that has hamstrung West Africa’s biggest economy and […]

LUSAKA May 11 (Reuters) – Zambia’s kwacha is expected to firm next week on increased dollar supply in the market ahead of a government bond sale, while the Kenyan shilling is seen slipping on a dollar squeeze amid increased demand from oil importers and general merchants. ZAMBIA The kwacha is expected to stay firm next […]

Bayo Akinloye Nigeria’s dollar liquidity constraints are likely to persist for the foreseeable future, despite the recent improvements in foreign exchange earnings and availability, Moody’s Investors Service has said. According to a report released on Wednesday, which Moody’s said was an “update to the markets” despite recent progress in foreign exchange liquidity, dollar usage in […]

In Nigeria, it can be hard to know just how much the notes in your wallet are worth. The official exchange rate for the country’s currency, the naira, is around 305 to the dollar. But banks lend to each other at a second rate. A third rate is used by international money transfer companies. Perhaps […]

The World Bank has blamed Nigeria’s enduring foreign exchange instability on the fixed exchange regime in the official forex market. In a publication on African economies titled: ‘Africa’s Pulse,’ the World Bank singled out Nigeria and Angola as two countries that had yet to experience stability in the forex market despite rebound in the prices […]

Oyetunji Abioye A former Governor of the Central Bank of Nigeria, Prof. Chukwuma Soludo, on Monday highlighted steps the Federal Government needed to return the country out of the biting economic challenges and get back on the path of growth. Soludo said policymakers must get the country out of the current multiple exchange rates’ regime […]

For the first time in several months, officials of the Central Bank of Nigeria (CBN), Department of State Service (DSS), the Police and over 3,000 directors of Bureaux de Change (BDC) operators found themselves under one roof. The emergency meeting, organised at the instance of the Association of Bureaux De Change Operators of Nigeria (ABCON), […]