The exchange rate gap in Nigeria’s foreign exchange market has collapsed sharply as the spot rate has maintained a downward trend for 14 consecutive trading sessions.

China’s Foreign Reserves Hit 10-Year High at $3.428trn China’s foreign exchange reserves totalled 3.4278 trillion…

The Central Bank of Nigeria (CBN) increased its intervention in the forex market during the week by injecting an $300 million to reduce the naira’s all-week negative fluctuations.

The naira depreciated across the foreign exchange market due to tight liquidity in the official and informal segments of the local currency market.

Naira fell against the US dollar for the 11th consecutive trading session on Wednesday, reflecting a lack of adequate foreign currency liquidity to meet international payments.

Euro Rises as Markets Price ECB Rate Cut The euro rose modestly to $1.165, partially…