Nigeria’s central bank injects $195m into forex market

Nigeria’s central bank said it had injected $287.89 million into currency market on Friday to meet requests in four industries for dollars, extending efforts to boost liquidity and alleviate shortages. The four industries targeted are agriculture, airlines, petroleum and raw materials, the Central Bank of Nigeria said in a statement. The central bank said it […]

China’s FX regulator denies U.S. dollar withdrawal limits

China’s foreign exchange regulator has not modified rules on withdrawals of foreign exchange by individuals, the regulator said on Tuesday, following media reports that it had capped the frequency of U.S. dollar withdrawals at two each week. “We have not released any new rules recently regarding domestic cash withdrawals of foreign currency by individuals,” the […]

Nigeria naira outlook positive this week on 5.1% rise in FX reserve levels, CBN interventions

The Nigerian naira is projected to trade positive this week on growing reserves and central bank continued intervention, according to Ecobank Research analysts. At close of trade last week, the naira at N353.4/$ strengthened against the U.S dollar, a development, analysts at Ecobank Research say would continue this week. Specifically, the Nigerian naira strengthened 0.6 […]

ChapelHill Denham lists first-ever N200bn infrastructure debt fund

ChapelHill Denham has listed the first series of its N200 billion Nigeria Infrastructure Debt Fund (NIDF), reputed as the first-ever listed infrastructure debt fund in Nigeria and sub-Saharan Africa. The Chapel Hill Denham Nigeria Infrastructure Debt Fund (“NIDF” or “the Fund”) is a close-ended fund, domiciled in Nigeria and denominated in Naira. The Fund is […]

Nigeria’s currency futures market volumes drop on rate convergence

The recent improvements in foreign currency liquidity at the Nigerian foreign exchange market have ironically affected volumes at the nations’ currency futures market, according to financial analysts and data obtained by Businessamlive. Findings reveal that the volume of trade in the Nigerian currency futures market has dropped dramatically since the Central Bank of Nigeria (CBN) […]

CBN’s forex intervention hits $6bn in five months

…I&E window gets $2.2bn in six weeks as naira depreciates to N370/$ The Central Bank of Nigeria’s (CBN) total intervention at the nation’s foreign exchange market has been put at $6 billion with the new investors and exporters (I&E) window getting $2.2 billion in just six weeks of operation. The newly introduced Investors& Exporters FX […]