Tag: Forex Market
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CBN lifts forex ban on 43 Items, to intervene in FX market
The Central Bank of Nigeria (CBN) has lifted the forex ban on 43 items and also promised to intervene in the FX market from “time to time”. Recall that the apex bank in 2015 restricted the items from accessing FX from the I&E window, saying they were not valid for foreign exchange and could be…
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Again, Naira depreciates, banks hit by dollar shortage
The Naira has continued to depreciate against the dollar on the Investors and Exporters (I&E) and parallel markets. The data and information gathered from both segments showed. Findings show that the currency has lost N100 after sliding from 860/$ to 960/$ at the parallel market as of Friday.
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Naira loses marginally, exchanges N461.50 to dollar
The Naira lost marginally as it exchanged at N461.50 to the dollar at the Investors and Exporters window on Monday. The figure represented a decrease of 0.05 per cent compared with the N461.25 it exchanged after the close of business on Feb. 18.
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CBN releases $543m, CNY 63m into Forex market
The Central Bank of Nigeria (CBN) has boosted the operations of the inter-bank foreign exchange market with about $543.22 million and CNY63.21 million after two days interventions. The apex bank in a statement on Friday that the interventions on Thursday and Friday were in the wholesale as well as the Small and Medium Enterprises (SMEs)…
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CBN releases $340m, CNY69m into forex market
The Central Bank of Nigeria (CBN), on Friday, provided 340 million dollars and 69 million Chinese Yuan (CNY) to customers seeking foreign exchange in the agricultural and raw material sector. The acting Director, Corporate Communications, Mr Isaac Okorafor, said the sales in the Chinese Yuan was done through a combination of spot and 15-day tenor.…
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CBN raises FOREX market with $210m
The Central Bank of Nigeria (CBN), on Wednesday, injected 210 million dollars into the Inter-bank Foreign Exchange Market in continuation of its efforts to sustain liquidity in the market. The acting Director, Corporate Communications, CBN, Mr Isaac Okorafor in a statement said the apex bank offered 100 million dollars to authorised dealers in the wholesale…
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CBN injects fresh $210m into forex market
…as Naira exchanges for N360/$1 The Central Bank of Nigeria (CBN) has intervened with another sum of $210m in the foreign exchange market to meet the requests of customers, as the regulator continues its efforts to maintain a stable exchange rate for the naira. A breakdown of the figures obtained from the bank in Abuja…
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CBN injects fresh $339.89m into forex market as Naira exchanges for N362/$1
The Central Bank of Nigeria (CBN) on Friday sustained its intervention in the Foreign Exchange market by injecting 339.89 million dollars in the Retail Secondary Market Intervention Sales (SMIS) segment. The Acting Director, Corporate Communications Department, CBN, Mr Isaac Okoroafor in a statement on Friday, said the continued interventions were in line with CBN’s pledge…
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CBN injects $355.43m into forex market
The Central Bank of Nigeria (CBN) in its resolve to guarantee liquidity in the market, on Friday injected the sum of $355.43 million into the Retail Secondary Market Intervention Sales (SMIS). Figures obtained from the CBN revealed that the intervention was to meet requests in the agricultural, airlines, petroleum products and raw materials and machinery…
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CBN injects fresh $210m into forex market
The Central Bank of Nigeria (CBN) has injected another sum of $210million into the inter-bank Foreign Exchange Market in its desire to ensure the availability of forex and also meet customers’ requests in various segments of the market. Information from the CBN on Monday showed that the CBN offered $100million to authorized dealers in the…