Speculation, I&E window impede Naira appreciation
A combination of speculative attack against the naira in the parallel market and activities in the newly introduced Investors and Exporters (I&E) forex window are impeding further decline in the parallel market exchange rate below N385 per dollar. Prior to the 100 per cent increase in dollar supply to BDCs, from $20,000 to $40,000 per BDC, the parallel market exchange rate dropped to N380 per dollar.
CBN injects $280m for SMEs, BDCs, invisibles as Naira rises to N397/$
The Central Bank of Nigeria (CBN) Tuesday said that it has supplied $280 million into various sectors of the market and the commencement of its weekly $20,000 sale to licensed Bureaux de Change. It also announced opening of bids for offering $100m wholesale 7-45 days forwards through the Deposit Money Banks (DMBs).
Naira strengthens against dollar at parallel market
The naira firmed against the dollar at the parallel market on Tuesday, closing at N398 to the dollar.The naira appreciated from the N410 it posted at the segment on Friday
It was traded at N497 and N430 to the pound sterling and Euro, respectively, at the segment.
Interest rate volatility to persist amidst N350bn inflow
THE volatility in interest rate in the interbank money market is expected to persist this week despite inflow of N350 billion from matured treasury bills.
Naira Watch: Naira depreciates to N407/$ as CBN releases $250m
The naira Wednesday depreciated to N407 per dollar yesterday in the parallel market even as the Central Bank of Nigeria (CBN) released additional $250 million on 7 to 30 day forwards for agriculture, airline, petroleum products and raw materials.
Naira Watch: Naira appreciates to N400/$, CBN to allow forex trading …
The Central Bank of Nigeria (CBN) is set to open a special window for foreign investors to trade in foreign exchange for dividends and investment remittances.
