Tag: Forex
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Naira holds steady at N1,586.15 against Dollar
The Naira remained unchanged on Friday, closing the week at ₦1,586.15 to the Dollar at the official foreign exchange market.
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Naira surges as forex reforms gain traction
The Naira appreciated by ₦4.59 against the U.S. Dollar on Thursday, closing at ₦1,586.15 at the official foreign exchange market.
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Ex-CBN Director proffers solution for stability of forex
A former Director of Research Department, Central Bank of Nigeria (CBN), Dr Titus Okurounmu, has urged the Federal Government to make concerted efforts to increase domestic production to check foreign exchange volatility.
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Stop using forex as collateral for Naira loans, CBN warns bank customers
The Central Bank of Nigeria (CBN) has warned bank customers to desist from using foreign currency as collateral for Naira loans. Acting Director, Banking Supervision Department of the CBN, Adetona Adedeji, gave the warning in a statement on Monday, in Abuja.
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How to practice your forex trading strategy: A comprehensive guide
The foreign exchange (Forex) market is the largest financial market in the world, known for its high liquidity and 24-hour trading operations. Success in Forex trading demands more than just understanding the basics; it requires a well-tested strategy and
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Recent forex stability commendable, says CBN gov, Cardoso
The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, says recent stability achieved in the foreign exchange market is commendable. Cardoso said this on Tuesday in Abuja, while presenting the communique from the 294th meeting of the apex bank’s Monetary Policy Committee (MPC).
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CBN lifts FX restrictions on dairy products import to crash prices
The Central Bank of Nigeria, CBN, has lifted forex restrictions on the importation of milk and dairy products in the country, a move expected to push down prices. This was contained in a CBN circular with the reference number TED/FEM/PUB/FPC/001/010 dated March 12 to all banks. Zenith Bank further confirmed the development in a recent…
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CBN reports increased forex inflow in February
The Central Bank of Nigeria (CBN) has reported a significant increase in foreign exchange inflow into the economy in February. Acting Director, Corporate Communications Department of the CBN, Mrs Hakama Sidi, said this in a statement on Friday in Abuja.
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Forex: FG to raise $10bn for increased liquidity, Naira stability
The Federal Government has expressed determination to raise at least 10 billion dollars to increase foreign exchange liquidity to stabilise the Naira and grow the economy. President Bola Tinubu made this known at the inauguration of the Public Wealth
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FG pledges to stabilise Forex
Following recurrent freefall of Naira in the Foreign Exchange (Forex) market, the Federal Government has assured Nigerians that it will implement macroeconomic reforms to stabilise the market. The Minister of Information and National Orientation, Mohammed