Browsing: Foreign Exchange

CBN FX Adjustment Put Banks Minimum Capital Base below $70 Million. The Central Bank of Nigeria recent foreign exchange (FX) adjustment has rub off on capital position of banks, as a result experts are expecting capital raise for operators.

Jaiz Bank Plc, the premier non-interest bank in Nigeria has resumed selling of foreign exchange to operators of Small and Middle Enterprises (SMEs) to open up businesses and boost the nation’s economy amidst Covid-19 pandemic.

FX repatriation: CBN Governor assures investors of orderly exit

Increased foreign exchange interventions drain external reserves – Analysts. Analysts WSTC Securities Limited has connected the downward slope in gross external reserves amount to an increased intervention of the Central Bank of Nigeria in the investors and exporters (I&E) window.

Declining yields: Local investors shift to foreign currency investments. Analysts have observed that local investors are shifting from murky investment environment into foreign currency investments due to declining yields in the market.

FX: CBN sells $10bn to defend Naira in fourth quarter of 2019. The apex bank in the country has said it sold the total sum of US$9.98 billion to authorised currencies dealers in the fourth quarter of 2019.

Foreign Exchange: CBN’s intervention keeps Naira stable. The Nigeria’s local currency, Naira, having being on live support for over two years when the Central Bank of Nigeria (www.cbn.gov.ng) introduced multi tiered exchange regime.