Naira Remains Under Pressure Despite Increase In Forex Reserves   The naira remained under pressure across official and parallel markets despite continuing increase in Nigeria’s foreign exchange (forex) reserves. The naira depreciated by 0.2 per cent at the official Investors and Exporters (I & E) Window and...

Dollar Turnover In I&E Rises By 152% To $2.16bn In January The volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the foreign exchange market rose sharply by 152 per cent, Year-on-Year (YoY), to $2.16 billion in January 2022 from $906.44...

'CBN May Devalue Naira By 10%'   A senior Investment Strategist at Standard Chartered, Abhilash Narayan, has said the Central Bank of Nigeria (CBN) may be seen to devalue the naira by as much as 10 per cent in 2022. Narayan stated this during a webinar themed...

Naira Declines Amid Devaluation Concerns   The Naira depreciated at the official and parallel markets amid growing concerns that oil revenue fluctuation and global monetary tightening would lead to further devaluation of the currency. Official data and trading reports showed that the Naira depreciated by 0.12 per...

CBN Will Spend $8bn Defending Naira This Year - Rewane   The Managing Director of Financial Derivatives Company Ltd and economist, Bismarck Rewane, yesterday, painted a mixed picture of the economy, projecting the Central Bank of Nigeria (CBN) will spend between $8 and $10 billion to...

Naira Opens First Trading Day On Positive Note At N422/$   Naira opened trading for the year at the Investors and Exporters’ (I & E) window on an upswing yesterday. It was quoted at N422.67 per dollar, gaining N8.75, as against last year’s closing rate of...