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Forex: Naira Remains Stable This Week In Parallel Market

Forex: Naira Remains Stable This Week In Parallel Market

The ​N​aira ​on Thursday remained stable at N364 per dollar in the parallel market. ​There was no significant increase or decrease in the figure all week days. The stability was attributed to weak demand for dollar and increased supply due to dollar sale to bureaux de change by the Central Bank of Nigeria (CBN​). CBN […]

Don’t Underestimate Inflation: Bank Of England’s Forbes Warns

The increase in headline inflation isn’t just a temporary effect of the exchange rate that’s going to go away Bank of England policy maker Kristin Forbes has a message for her colleagues as her term ends: don’t leave it too late to rein in consumer prices. “For a period now, we have been underestimating the inflationary […]

Dollar Rises To 3-week High Against Yen

Dollar Rises To 3-week High Against Yen

The U.S. currency rose to a three-week high against the yen as Asian investors carried on from their North-American peers in buying the greenback as Federal Reserve speakers pointed to strength in the U.S. economy. The dollar gained for a second day versus Japan’s after New York Fed President William Dudley said he was confident the […]

Forex: Naira Firms As CBN Injects $195m Into Market

Forex: Naira Firms As CBN Injects $195m Into Market

The Nigeria’s Naira on Monday strengthened against the other foreign currency after the Central Bank of Nigeria (CBN) injected a total sum of $195 million into the inter-bank forex market on same day to meet the requests of customers in the various segments of the market. This follows the CBN’s intervention in the inter-bank foreign […]

CBN Pumps In $995m, Mulls New Forex Retail Option

CBN Pumps In $995m, Mulls New Forex Retail Option

The Central Bank of Nigeria is contemplating introducing a new FOREX retail option in Nigeria, just as it released another $195million into the market today. The bank last week released $800 million , making a total of $995million injection, in eight days. The bank hoped that the fund will adequately meet the requests of customers […]

Nigerian Stock Exchange Reverses Loss, Makes Gain

Nigerian Stock Exchange Reverses Loss, Makes Gain

The Nigerian stock exchange, NSE, on Wednesday gained some 1.38% points to reverse its two day consecutive loss. The All Share Index closed at 33,598.20 basis points, gaining 456.35 basis points when compared to Tuesday’s closing of 33,141.85 basis points. Likewise, the market capitalisation for Wednesday closed at 11.618 trillion Naira, gaining 158 billion Naira […]

CBN Lifts Naira With $418 Million

CBN Lifts Naira With $418 Million

The Nigeria’s Naira is set to be given further lift in the forex market with the Central Bank of Nigeria, CBN’s injection of another $418 million into various segments of the inter-bank Foreign Exchange market on Tuesday. This is coming on the heels of a cumulative $2.2bn boost in the transactions at the Investors’ & […]

Forex: Investors, Exporters Pump $2.2bn Into Market

Forex: Investors, Exporters Pump $2.2bn Into Market

There are signs that government’s determination to expand foreign exchange sources for the country has started yielding results as the Central Bank of Nigeria (CBN) on Tuesday disclosed that exporters and investors have brought in a combined $2.2 billion into the foreign exchange market between since April. The announcement came on a day that the apex […]

Dollar Drops As Investors Await Fed Policy Clues

Dollar Drops As Investors Await Fed Policy Clues

The dollar inched 0.1 percent lower to 109.98 against the yen, while the euro added 0.1 percent to $1.1217. The dollar eased on Wednesday with investors looking past an expected U.S. rate hike later in the day for clues on Federal Reserve policy for the rest of the year. The dollar index, which tracks the […]

The Sterling Hits Higher Before UK Wages Data

The Sterling Hits Higher Before UK Wages Data

The UK Pound Sterling strengthened against the dollar on Wednesday as investors awaited UK labour market data for signs of a pick-up in wages that could add to arguments for an eventual rise in record low Bank of England interest rates. The Bank of England (BoE) has highlighted stubbornly low wage growth since the 2008 […]

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