Tag: Forex Market

Naira tumbles to N1,234/$ at official market, speculators resume hoarding

The naira depreciated in its value against the United States dollar to N1,234 at the official foreign exchange market on Monday, according to data obtained from the FMDQ securities exchange.…

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Excitement As CBN Begins Sales Of Dollars To BDCs

The Central Bank of Nigeria has announced its decision to sell foreign exchange worth $20,000 to each eligible Bureau De Change operator across the country. This is coming more than…

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High Expectations As CBN Injects $500m Into Forex Market

With Monday’s injection of $500 million into the Foreign Exchange (forex) market, the Central Bank of Nigeria (CBN) has reduced the $10 billion backlog of verified forex transactions by $2.5…

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