Developing countries should trade in local currencies to alleviate forex pressure, Turkey’s Erdogan advises

Turkey's Erdogan

Countries from the so-called “D-8” group of developing nations should trade with each other in their local currencies, Turkish President Tayyip Erdogan said Friday, to alleviate the forex pressure inherent in dollar-based trade. “If we are to use local currencies for trade within the D-8, our currencies will be rid of the pressures from foreign […]

Analysts canvass multiple forex supply sources for the market

With sole reliance on the Central Bank of Nigeria (CBN) as a source of foreign exchange supply to the economy, financial analysts have called on the system, private sector and Nigerians to create additional sources of supply through export of services and goods. This, according to them, would further enable availability and disbursement of forex […]

Nigeria’s new forex policy driving growth in critical sectors – stakeholders

The new forex policy of government, which has seen the Central Bank of Nigeria (CBN) continually injecting dollar into the foreign exchange market, has been commended as the right measure to boosting critical sectors of the economy, according to stakeholders. Consensus among stakeholders is that Nigeria’s critical sectors are on the verge of being productive […]