CBN slashes BDC rate from N390 to N360

The Central Bank of Nigeria (CBN), on Tuesday slashed the rate at which it sells forex to Bureaux De Change (BDCs) in Nigeria to N360 and directed the BDCs to…

 
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Nigeria’s FX Market Posts Dollar Trades at Near Record Low

Nigeria’s interbank forex market traded $540,000 in early deals at 375 naira per dollar, near a record low exchange rate hit last November, Thomson Reuters data showed on Monday. The…

 
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CBN Revealed How Its Achieved A Stronger Naira

The Central Bank of Nigeria (CBN) said the recent appreciation of the Naira against other currencies was the result of its market monitoring and intervention. The acting Director, Corporate Communications…

 
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Nigeria’s Naira on a Free Fail, Now N499 to $1

Nigeria’s naira was quoted as low as 499 to the dollar on the black market on Tuesday, 39 percent weaker than on the official market, where the central bank has…

 
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