Report Reveals Forex Turnover Crashes By 47%
The foreign exchange turnover of Naira against the United States of American dollar on the Investors & Exporters window fell by 47.08 per cent in April.
This was disclosed in the monthly report of activities on the FMDQ which...
Dollar Crisis: Banks Slash Foreign School Fees, Travel Allowance
Deposit Money Banks have slashed the amount of Personal Travel Allowance and schools fees their customers can apply for amid a worsening foreign exchange crisis.
Shortage of FX in the country has forced lenders to take drastic...
Naira Heads To N1,000/$ As Scarcity Worsens
The rate at which the naira, is depreciating against the dollar shows that it could fall to N1,000/$ before the end of next month, traders said Tuesday.
According to the traders, this is due to shortage of the greenback,...
CBN Approves Dollar Sales By Payment Service Banks
The Central of Nigeria (CBN) has released supervisory framework for Payment Service Banks. The framework among other things empowered the PSB operators to sell foreign currencies, especially dollars, to authorised foreign exchange dealers.
The CBN framework also authorised...
Naira Sells N436.63/$1 at Spot Market, N731/$1 at Black Market
The Naira appreciated against the US Dollar at the Investors and Exporters (I&E) window of the foreign exchange market on Thursday, October 6.
Yesterday, the exchange rate of the local currency against the greenback closed at...
Naira Slips to N737 to a Dollar
The naira, on Thursday, depreciated further against the dollar at the parallel and official sections of the foreign exchange market.
The Nigerian naira collapsed to a new record low, trading at a minimum of N737/$1 on Thursday at the...
