Nigerian naira trades flat against US dollar at unofficial parallel market
Businessam Staff
May 4, 2018
![Nigerian Naira, Federal government](https://www.businessamlive.com/wp-content/uploads/2017/06/naira-dollar-4-1-1062x598.jpg)
The Nigerian naira closed flat against the United States dollar at the parallel foreign exchange (FX) market on Thursday at N362, but appreciated by 0.01 percent to N360.46 at the official Importers and Exporters (I&E) FX window. Growth in total turnover in the I&E FX window turned negative by 48.87 percent to $185.36 million, traded […]
Nigeria central bank boosts FX market with $210m
Businessam Staff
May 2, 2018
![](https://www.businessamlive.com/wp-content/uploads/2017/09/Saudi-Arabia-.jpg)
The Central Bank of Nigeria (CBN), Wednesday, May 2, 2018, injected the sum of $210 million into the inter-bank Foreign Exchange market in continuation of its efforts to sustain liquidity in the market. The CBN offered the sum of $100 million to authorized dealers in the wholesale segment of the market. The Small and Medium […]
22nd OTC FX futures contract matures, settles on FMDQ
Businessam Staff
May 1, 2018
![Dollar](https://www.businessamlive.com/wp-content/uploads/2017/06/dollars-1.jpg)
By Afolabi Adesola The 22nd over the counter (OTC) foreign exchange (FX) futures contract have matured and been settled on the FMDQ. With the maturity of the NGUS APR 25 2018 contract (notional amount, $660.49), the total value of contracts so far matured and settled on FMDQ, stands at $9.13bn, while a total of $12.03bn […]
Bullish outlook for naira ahead of CBN rate decision, economic data release
Businessam Staff
April 22, 2018
![](https://www.businessamlive.com/wp-content/uploads/2018/02/naira.jpg)
The local currency, the naira, would trade steady against international currencies ahead of Central Bank of Nigeria’s (CBN’s) rate decision and economic data released by the National Bureau of Statistics (NBS) this week, says Lukman Otunuga, research analyst at FXTM. “The upcoming trading week will offer investors fresh insight into the health of Nigeria’s economy, […]
CBN stabilises forex market with $210m intervention
Businessam Staff
April 18, 2018
![](https://www.businessamlive.com/wp-content/uploads/2017/06/forex-2-1-560x343.jpg)
Nigeria’s central bank (CBN) moved to stabilise the country’s foreign exchange market with an intervention of $200 million at the inter-bank sector of the market. The intervention was made in order to meet the requests of customers whose demand had exceeded what would ordinarily have been available. The statement made available to businessamlive,com showed a […]
Naira steady against dollar ahead of FOMC minutes
Businessam Staff
April 11, 2018
![Naira @ N600/$1: What type of Independence Day present for Nigerians?](https://www.businessamlive.com/wp-content/uploads/2017/10/naira-and-dollars-jpg.jpg)
by Lukman Otunuga The Naira held its ground against the dollar Wednesday ahead of the anticipated U.S CPI reading and FOMC meeting minutes. It is certainly shaping up to be a painful week for the Greenback as lingering trade war fears and political uncertainty in Washington weigh heavily on the currency. If the […]
Central bank urged to cut MPR, eradicate multiple exchange rates
Businessam Staff
April 1, 2018
![](https://www.businessamlive.com/wp-content/uploads/2017/06/Aminu-Gwadabe.jpg)
Aminu Gwadabe, the President of Association of Bureau d’Change Operators of Nigeria (ABCON), has advised the CBN to reduce its monetary policy rates. He said that lowering the Monetary Policy Ratio (MPR) and other rates by the CBN Monetary Policy Committee (MPC) was critical to revamping the productive sectors of the economy. Gwadabe told the […]
Standbic IBTC lists Nigeria’s largest open-ended dollar, money markets, bond funds on FMDQ platform
Kayode Ogunwale
February 13, 2018
![](https://www.businessamlive.com/wp-content/uploads/2018/02/Yinka-Sanni-e1485737895241.jpeg)
As a debt-capital focused securities exchange, championing and supporting market-driven initiatives aimed at providing liquidity and facilitating growth and development in the Nigerian financial markets, FMDQ OTC Securities Exchange (FMDQ), through its board listings, Markets and Technology Committee, admitted the listing of the Stanbic IBTC Dollar, Money Market and Bond Funds (the SIAML Funds) on […]
Slight variations, but naira relatively stable on street market
Businessam Staff
February 12, 2018
![](https://www.businessamlive.com/wp-content/uploads/2017/06/dollars.jpg)
By Remilekun Davies and Ademola Badmus Nigeria’s foreign exchange market, which plays host to various kinds of players, each contributing to the challenge in the multiplicity of rates and the ever-widening gulf between the official and the unofficial rates, produced a relatively stable naira at the parallel market last week, business a.m. currency monitoring across […]
ACM Gold shuts forex operations in Nigeria, other countries to enter crypto world
Abdulrafiu Edidi
January 31, 2018
![ACM Gold shuts forex operations in Nigeria, other countries to enter crypto world](https://www.businessamlive.com/wp-content/uploads/2018/01/Bitcoin-and-Forex-exchange-trading.png)
ACM Gold, once the largest foreign exchange brokerage in South Africa, has announced that it has shut down its foreign exchange operations in Nigeria and a number of other countries to prepare itself for an entry into the world of cryptocurrencies, according to an announcement on its website accessed by businessamlive.com ACM, established in 2004, has […]