Browsing: FX

Naira Depreciates Despite Foreign Exchange Sales Resumption. Against expectation, the Nigerian local currency, naira, depreciates despite the resumption of the apex bank weekly intervention foreign currency (FX) sales.

FX liquidity Could Trigger Foreign Investors Exits. Stranded foreign investors may find an exit route from the Nigeria’s financial market as foreign exchange as foreign exchange liquidity improves.

Market to Trade Cagily as Investors Await Triggers for Yields Repricing. Analysts at Chapel Hill Denham Limited have said that the fixed income market will continue to trade cautiously as investors await triggers for potential downward or upward repricing of yields.

Trade Deficit Reflects Depth of Nigeria’s FX Issues – Cardinalstone. Cardinalstone Partner, a leading investment banking firm headquartered in Lagos has said that trade deficits recorded in the second quarter of 2020 underscores depth of Nigeria’s foreign exchange (FX) issues.

Naira Gains as Traders Reduce FX Exposure ahead of CBN Auction. Naira appreciates Tuesday as currency traders reduce exposures ahead of the Central Bank of Nigeria weekly intervention sales resumption starting on September 07, 2020.

Naira Remains Resilient as CBN Sets to Resume FX Sales to BDCs. Nigeria’s local currency, Naira, maintained strong position this week amidst the apex bank plan to resume its weekly intervention sales.

Resumption of International Flight to Herald FX Sales to BDCs. Analysts at United Capital have noted that resumption of international flight is likely to herald foreign exchange sales to the Bureau De Change (BDCs).

FMDQ Turnover Jumps 13.66% to ₦18.72 trillion in July FMDQ Securities Exchange has posted 13.66 % turnover growth in the…

CBN Hints on FX Convergence around NAFEX rate, Put backlog at $2.5bn. The Central Bank of Nigeria says the nation’s external reserve remains substantial to service foreign exchange obligations as it estimated foreign exchange backlog at $2.5 billion.

CBN spends too much to defend Naira, as cost spike more than six times