Browsing: Naira

Liquidity squeeze was experienced in the Foreign Exchange markets in April as Investors

Naira Stable Across FX Markets amidst Declining Price of Oil

Naira Plunged despite Foreign Currency Intervention Sales Naira plunged this week despite the Central Bank of Nigeria’s (CBN) foreign currency…

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.

Substantial Naira Devaluation Inevitable to Unlock FX Liquidity –CHD. As the Central Bank of Nigeria’s planned foreign exchange (FX) intervention sales set to commence, Chapel Hill Denham has said that substantial naira devaluation is inevitable to unlock liquidity.

Interbank Funding Eased on Strong Financial System Liquidity. Interbank funding rates eased further yesterday, as financial system liquidity opened substantially higher at ₦609.1 billion from ₦470.4 billion.

FX: Oil Market Balance Raises Hope for Naira Stability – Afrinvest. Naira position in the foreign exchange market has drastically dropped, but Afrinvest has stated that there is hope for the local currency as oil market balances.

Naira Repricing Likely as Weak FPI Appetite for OMO Bills Worsen FX Outlook. Naira repricing is more likely as weak foreign portfolio investors (FPI) appetite for Open Market Operations (OMO) bills would worsen currency outlook, Cardinalstone, a multi-assets investment management firm stated this in

CBN Moves to Converge FX Rates to Raise Average Price Level. The Central Bank of Nigeria moves to achieve convergence in the foreign exchange market will raise headline inflation, FSDH has said.

“Nigeria’s Multiple Exchange Rate System Likely to Stay”. Nigeria’s multiple exchange rate is more likely to stay in the short term, says Fitch in its Sub-Saharan Africa outlook.