Naira Gains on Dollar Across FX Market Windows

By Adedapo Adesanya The local currency put up a better performance against the US Dollar across the segments of the foreign exchange (FX) market on Thursday as the thirst for foreign currencies waned. Business Post reports that the Nigerian Naira appreciated against its American counterpart yesterday in the Investors and Exporters (I&E), the black market,… Continue reading Naira Gains on Dollar Across FX Market Windows

Forex Market Segments Stable Amid CBN $210m Support

By Modupe Gbadeyanka Last week, there was stability at the various segments of the currency market in the country as the Central Bank of Nigeria (CBN) put another $210 million into the market to sustain flow of forex to meet demands of customers. According to a weekly report released by Cowry Asset, the Naira strengthened… Continue reading Forex Market Segments Stable Amid CBN $210m Support

Naira Appreciates Across Most Market Segments

By Cowry Asset Last week, the local currency appreciated week-on-week in most foreign exchange market segments. The Naira/Dollar appreciated at the I&E FX window (I&E FXW), Bureau De Change (BDC) and the parallel (black) market by 0.14 percent, 0.28 percent and 0.27 percent to N360.33/$, N360/$ and N364/$ respectively while it dosed steady against the… Continue reading Naira Appreciates Across Most Market Segments

Forex Market Segments Relatively Stable amid CBN $210m Support

By Cowry Asset In the just concluded week, the local currency appreciated week-on-week at the I&E FX window by 0.08% to N360.36/USD while it closed steady at the interbank foreign exchange market segment and the Bureau De Change at N330.0/$ and N361/$ respectively amid sustained intervention by the Central Bank of Nigeria (CBN) made injections… Continue reading Forex Market Segments Relatively Stable amid CBN $210m Support

Naira Falls at Forex Market Segments Despite CBN $250m Injection

By Cowry Asset During last week’s trading periods, the Central Bank of Nigeria (CBN) injected $250 million into various segments of the interbank foreign exchange market. The wholesale segment was offered $100 million, the Small and Medium Enterprises (SMEs) window received $80 million while the Invisibles segment received $70 million. The interbank market (NIFEX) exchange… Continue reading Naira Falls at Forex Market Segments Despite CBN $250m Injection