Browsing: FX

The Nigerian local currency, Naira, struggles to retain value as external reserves tumble

The Nigerian local currency, naira, has been projected to appreciate in the new week as Central Bank

Due to unfavourable trade balance, Nigeria’s foreign exchange (FX) receipts…

Analysts at Nova Merchant Bank Limited has said outright floating of the exchange rate

Naira Stable Across FX Markets amidst Declining Price of Oil

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.