Forex
Commercial banks to trade forex freely as CBN floats currency
By Business A.M. The Central Bank of Nigeria (CBN) has directed commercial banks to trade Foreign Exchange (FX) freely…
CBN resumes forex sale to banks, to clear unmet forex demands
After many weeks of absence from the foreign exchange market during which huge unmet forex demands piled up, the Central…
Banks, firms groan as forex scarcity affects payment obligations
BY: Moses olajuwon Obajemu Banks and other firms in the country have been groaning over their inability to raise enough…
Again, Foreign reserves slump by $544.94m
BY: Moses olajuwon Obajemu The country’s foreign reserves continued its descent last week as it declined by $544.94m from $36.17bn…
Forex scarcity sends naira crashing, now N472/$ at parallel market
Foreign exchange scarcity has triggered further fall of the naira in the parallel market where it now exchanges at N472…
Foreign reserves dip by $86m
By Moses Obajemu The CBN's foreign reserves sustained its descent as forex outflows continue to outpace inflows, thus dipping by…
Foreign reserves dip as forex market interventions, payments rise
Nigeria's foreign reserves dipped by $454.05m from $36.57bn on June 1 to $36.12bn on July 15, according to data from…
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