Saturday, February 8, 2020

Tag "forex"

    CBN: Recession may hit Nigerian economy in 2016

CBN: Recession may hit Nigerian economy in 2016

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says the Nigerian economy may plunge into recession in 2016. Speaking after the Monetary Policy Committee (MPC) of the CBN in Abuja on Tuesday, Emefiele highlighted reasons why such development could occur. “The committee noted that liquidity withdrawals following the implementation of the treasury single account, elongation of the tenure of state [...]

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    Nigeria’s foreign reserves fall by $940million

Nigeria’s foreign reserves fall by $940million

Nigeria’s foreign exchange reserves have fallen by $940 million (N185 billion), a 2.97 percent from what was obtainable in August, the Central Bank has confirmed. The reserves now stand at $30.69 billion – a short fall from $31.63 billion on the figures from a month earlier – and 22.42 percent less than it was in September 2014. The central bank has been reported to [...]

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    No more devaluation of the naira, says Buhari

No more devaluation of the naira, says Buhari

President Muhamadu Buhari has assured Nigerians and the international community that the country’s official currency, naira, will not be further devalued. The naira, which was devalued in November 2015 to 168 against the dollar, has in less than a year seen devaluation to N197 on the official interbank market. With falling oil prices, investors fear that the currency may be further devalued to a [...]

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    FXTM to hold ‘largest’ forex event in Nigeria

FXTM to hold ‘largest’ forex event in Nigeria

International broker ForexTime (FXTM) has announced its latest online trading and investment conference, which will hold in Lagos from August 14 to August 15 and Abuja, August 19 to August 20. The organisers said the conference is expected to attract over 1000 attendees, making it the largest forex event of its kind in Nigeria. In June, FXTM organised series of educational events [...]

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    Nigeria’s foreign reserves rise to $30bn

Nigeria’s foreign reserves rise to $30bn

Latest data from the Central Bank of Nigeria indicates that foreign exchange reserves rose to $30.69 billion in July, an increment of 5.6 percent from $29.03 billion in June. However, the forex reserves were down by 20.9 percent from $$38.8 billion a year ago. The growth in reserves for the month was attributed to efforts of the effort of the present government [...]

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Naira hits N217 to dollar at black market

The naira depreciated by N5 to the dollar on Friday, trading N217 at the black market and N215 at the Bureau De Change (BDCs) segment of the official market. A dealer, who did not want to be named, told NAN in Lagos that the depreciation might be due to the closure of the Retail Dutch Auction System (RDAS) by the CBN. It [...]

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Exchange Rates

February 04, 2019USDGBPEUR
INTERBANK306397354
LAGOS355444389
KANO354445370
PH355447412
ABUJA356454413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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