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Farooq

Posts Tagged "forex scarcity"

HomePosts Tagged "forex scarcity"
  • CBN

The Central Bank of Nigeria (CBN) on Tuesday, gave a boost of 210 million dollars to the interbank foreign exchange market. The Acting Director, Corporate Communications, Mr Isaac Okoroafor in a statement in Abuja, said the CBN offered 100 million dollars to authorised dealers in the wholesale segment of the market. He said also that […]

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 […]

The value of the naira against the dollar is declining as bureaux de change operators say the US currency is getting scarce in the parallel market. This is despite several efforts made by the Central Bank of Nigeria (CBN) to stabilise the naira by providing forex to various sections of the market. On Tuesday, the naira […]

The naira closed at 370 to the United States dollar on Friday, as dollar supply from the Central Bank of Nigeria continued to decline. The Nigerian currency, which used to stand between 360 and 365 to the greenback, has been trading between 367/dollar and 370/dollar in recent weeks. The naira was quoted at 366.79 per […]

LAGOS, Aug 23 (Reuters) – Nigerian naira fell on the black market on Wednesday, pressured by demand for dollars from Muslim pilgrims travelling to Saudi Arabia for the haj and individuals paying for school fees abroad. The naira was quoted at 370 to the dollar on the black market on Wednesday as against 368 naira […]

The naira depreciated against the United States dollar at the parallel market on Tuesday to 370, down from 368/dollar on Monday. The local unit had closed at 367/dollar on Friday. The development followed lack of dollar sale by the Central Bank of Nigeria on Monday. The CBN has been supplying dollar to the forex market […]

  • 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 […]

By Stanley Carvalho ABU DHABI, July 10 (Reuters) – Telecoms group Etisalat has terminated a management agreement with its Nigerian arm and given the business time to phase out the Etisalat brand in Nigeria, the chief executive of Etisalat International told Reuters on Monday. Nigerian regulators intervened last week to save Etisalat Nigeria from collapse after […]

BY BUKOLA IDOWU, and KAYODE TOKEDE, Lagos Since the Central Bank of Nigeria (CBN) commenced its aggressive interventions in the interbank and bureau de change segment of the foreign exchange market, the bank, as of Friday last week, had pumped a total of $7.766 billion into the market. In ensuring liquidity at the foreign exchange […]

  • 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 […]