Nigeria’s central bank injects $195m into forex market
Businessam Staff
November 8, 2017
Nigeria’s central bank said Tuesday it had injected $195 million into the interbank foreign exchange market, extending efforts to boost liquidity and alleviate dollar shortages. The bank said in a statement it had released $100 million earmarked for the wholesale market, $50 million for small businesses and individuals, and $45 million for certain dollar expenses […]
FXTM Chief Market Strategist, Hussein Sayed, takes a long view on dollar, pound, euro potential movements
Businessam StaffJuly 17, 2017
Last week the greenback was the biggest loser among all major currencies. The dollar index slipped to a 10-month low, while the Euro, the Pound, the Loonie and the Aussie all posted new 2017 highs. The dollar has been falling since the beginning of 2017 despite the two rate hikes that occurred in March and […]
CBN injects $142.5m into forex market
Businessam StaffJuly 11, 2017
The Central Bank of Nigeria (CBN) on Monday injected 142.5 million dollars into the inter-bank foreign exchange, days after intervening in the retail segment of the market with 254.3 million dollars. The spokesperson of the apex bank, Isaac Okorafor, in a statement, said the CBN would continue to carry out its regular mediation in the […]
Gaps in multiple forex rates narrow, naira opens at N364/$ Wednesday
Niyi JacobsJune 21, 2017
Strong interventions by Central Bank of Nigeria (CBN) geared towards achieving stability amidst convergence in the exchange rate of the naira is impacting positively on activities of Nigeria’s foreign exchange market as gap in rates narrows. The forex market opened trading on Wednesday morning with diverse rate for dollar, coming from the multiple foreign-exchange window […]
CBN boosts forex market with $195m, insists on transparency among stakeholders
Businessam StaffJune 20, 2017
Following its intervention in the inter-bank Foreign Exchange Market, last week, to the tune of over $800 million, the Central Bank of Nigeria (CBN) on Monday, June 19, 2017, injected a total sum of $195m into the inter-bank forex market to meet the requests of customers in the various segments of the market. A breakdown […]