Nigeria’s FX Market Turnover Falls 35.4% to $1.70bn as Spot Trading Contracts
Nigeria’s foreign exchange market turnover fell 35.41% to $1.70 billion in the week ended October 2, with the contraction concentrated in spot trading while forward......
foreign exchange
Naira hovers near ₦1,326/$ as Fed decision and CBN meeting put FX market on watch
The naira is holding near ₦1,326/$ as markets await the Federal Reserve’s September decision and the CBN’s next MPC meeting, with FX liquidity and intervention still under watch....
NAIRA STUMBLES TO ₦1,470/$ AS INFLOWS THIN — FX MARKET BRACES FOR PRESSURE
After weeks of relative calm, the naira slipped across both official and parallel markets on Monday, closing at ₦1,470.26/$ at the Nigerian Foreign Exchange Market. Analysts link the dip to reduced weekly inflows and delayed portfolio remittances, warning that the currency’s stability could be tested again if inflows fail to rebound....
FG ORDERS FULL IMPLEMENTATION OF NAIRA-FOR-CRUDE INITIATIVE
FG revives the Naira-for-Crude agreement with local refiners as a long-term policy to boost energy security and cut dollar reliance....