Nigeria’s central bank, CBN, intervenes in FX market with $210m

In another round of intervention, the Central Bank of Nigeria (CBN) has injected the sum of $210 million into the inter-bank Foreign Exchange Market to ensure the availability of forex and also meet customers’ requests in various segments of the market. The CBN Tuesday, August 7, 2018 offered $100 million to authorized dealers in the […]

Naira in marginal gain as street forex market shows relative stability


The naira on Wednesday gained marginally as it traded N359 to the dollar at the parallel market in Lagos after a 10-day stable streak. However, the Nigerian currency declined against other major world currencies as it traded N478 and N417 against the pound sterling and euro respectively from N480 and N418 previously. A business a.m. […]

Street forex market stable as dollar trades at N360

Forex Market, Naira, Nigeria equities market

The naira on Tuesday remained stable at the parallel market in Lagos exchanging at N360 to the dollar. The Nigerian currency had exchanged at the same rate on July 23, while the pound sterling and euro closed at N478 and N418 respectively. A cross-section of street markets in Ikeja showed the dollar traded at N360 […]

Streets forex trading holds firm as dollar average N361

Forex Market, Naira, Nigeria equities market

Wednesday monitoring of Nigeria’s ubiquitous street market for foreign exchange by business a.m. in Lagos, showed the dollar began the day trading at N360/N361 and remained unchanged throughout the day. The currency was bought by traders at N356 in the morning, climbing to N357/N358 later in the day. The British pound sterling was bought by […]