Home » Archives by category » Forex (Page 3)

CBN To Sustain Interbank Market Intervention

CBN To Sustain Interbank Market Intervention

Naira’s continued gains against the dollar will not deter the Central Bank of Nigeria (CBN) from sustaining its intervention in the interbank market, the apex bank said yesterday. The CBN has since February been pumping in dollars in all segments of the interbank market to ensure liquidity and availability of forex. More than $5 billion […]

Senate Says Nigeria Loses $2.5b Yearly To Gas Flaring

Senate Says Nigeria Loses $2.5b Yearly To Gas Flaring

Gas flaring has remained a major economic and environmental challenge since the discovery of oil in the 50s The Senate yesterday declared that Nigeria is losing $2.5 billion yearly to gas flaring. This is just as it began moves to enact a legislation to outlaw gas flaring in the country. At a public hearing on […]

China’s Daily Yuan Fix Makes Biggest Leap In 5Months

China’s Daily Yuan Fix Makes Biggest Leap In 5Months

It was the yuan’s highest level since Nov. 10 China’s central bank guided the yuan to its biggest one-day jump in roughly five months Thursday, the latest sign that authorities are seeking to bolster the yuan in the wake of the downgrade of the country’s sovereign debt by Moody’s Investors Service last week. The yuan fix […]

Naira Again Gains Against Dollar

Naira Again Gains Against Dollar

The Naira had a good week, maintaining its grip against the greenback. The local currency appreciated to 374 to US dollar on Thursday. Naira’s strength is bolstered by the ​sale of dollars to bureaux de change (BDCs) by the Central Bank of Nigeria (CBN)​ on Tuesday. CBN​ had intervened in the inter-bank market to the […]

Sterling Falls As Election Uncertainty Flares, Volatility Surges

Sterling Falls As Election Uncertainty Flares, Volatility Surges

A day after touching its lowest level in more than five weeks, Sterling fell versus the dollar, as the outcome of the June 8 snap election remains far from certain. Rising market stress exactly a week before the vote has seen a gauge of implied volatility in the pound climb. A YouGov Plc study published in the […]

Dollar Hits One-week High Against Yen

Dollar Hits One-week High Against Yen

The US dollar gained more ground against the yen on Friday ahead of U.S. jobs data that should, judging by the rhetoric of U.S. central bankers, cement a rise in Federal Reserve interest rates later this month. With the mood on global stock markets broadly buoyant, the commodity-price-dependent bloc of currencies led by the Australian […]

Forex: CBN Pumps $482.6m Into Market

Forex: CBN Pumps $482.6m Into Market

The Central Bank of Nigeria (CBN) on Tuesday sustained its intervention in the inter-bank segment of the foreign exchange (forex) market by injecting a total of $482.6 million into the market. This, the bank said underlined its determination to protect the value of the naira. A breakdown of the intervention indicated that the retail Secondary […]

Dollar To Rise 10% Above Yen, Euro, Says Goldman Fund Manager

Dollar To Rise 10% Above Yen, Euro, Says Goldman Fund Manager

The dollar has been a barometer of faith in President Donald Trump’s ability to bolster the U.S. economy The dollar is set to strengthen about 10 percent against the yen and euro as the Federal Reserve raises interest rates at least two more times this year, according to Goldman Sachs Asset Management. Treasury 10-year yields […]

CBN Lifts Naira With $482.6m; Retail SMIS Receives $286m

CBN Lifts Naira With $482.6m; Retail SMIS Receives $286m

The Central Bank of Nigeria (CBN) on Tuesday, May 30, 2017, the first trading day after the Democracy Day celebrations,  intervened in the inter-bank market to the tune of $482.6 million, underlining its determination to guard the international value of the naira. A breakdown of Tuesday’s interventions indicates that the Retail SMIS was allocated the […]

Option Market Bets Against Britain’s Pound Hit 2-1/2 Month High

Option Market Bets Against Britain’s Pound Hit 2-1/2 Month High

May 31 Option market bets on weakness in Britain’s pound Sterling reached their highest in more than two months on Wednesday after an overnight shock to the exchange rate from a poll showing the ruling Conservatives falling short of a majority in next week’s election. The 1-month sterling-dollar risk reversal – a measure of the […]

Contact Us
Call +234 813 069 1462