Naira ends week on negative note
The naira depreciated against the dollar on Friday as it exchanged at N778.42 at the Investors and Exporters window.
Domestic airlines attribute high airfares to sourcing forex from parallel market
…buy dollar for 500 naira at parallel market By Lawani Mikairu Domestic airlines have attributed the current astronomical high airfares being charged to different routes to non-availability of foreign exchange needed for operations. This has compelled the airlines to source forex from the open parallel market. According to the airlines, they have been buying dollars […]
Forex scarcity, repatriation uncertainties depress investments in Q1 — Analysts
Investment analysts have blamed foreign exchange (forex) scarcity and concerns around the possibility of ease of repatriating funds out of the country as cause of the dwindling Foreign Portfolio Investment (FPI) in the stock market.
FOREX: Turnover in I&E window falls 82% to $3.7bn
The volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the foreign exchange (FOREX) market fell year-on-year (YoY) to $3.7 billion in the first quarter of this year (Q1’21) from $20.49 billion in Q1’2020.
Forex: Turnover in I&E rises 43% to $1.3bn in February
The volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the Nigerian foreign exchange market rose by 43 percent, month-on-month, to $1.3 billion in February from $906.44 million in January 2021.
BDCs battle black market dealers over forex malpractices
The Bureaux De Change (BDC) operators licensed by the Central Bank of Nigeria (CBN) have declared operational war against foreign exchange (forex) speculators and black market dealers over alleged market distortions.
