Forex: Speculators Set To Count Losses -CBN. By. Owoicho Sunday Owoicho, Abuja - September 3, 2020. 0. 129. Speculators in Nigeria’s foreign exchange market are set to count huge losses as the Naira continues to surge against the dollar, following the interventions made by the Central Bank of Nigeria (CBN) in the Investors and Exporters (I&E 24.09.2020 02.09.2020 15.06.2016
Jul 01, 2020 · The NAFEX rate is the forex window where Investors and Exporters transact dollars on market-determined prices. The apex bank has been considering the option of unifying the exchange rate around the NAFEX (I&E) window rate or the official CBN rate of N360/$1. The Central Bank of Nigeria (CBN) on Friday vigorously explained its planned restriction of foreign exchange (FOREX) allocation for the importation of milk into the country in the midst of a Oct 07, 2019 · CBN’s adamant posture on forex substitution has released so much naira into the system that the excess liquidity is used to chase the few dollars in supply thus forcing the naira persistently down the precipice. The CBN has always argued that Nigeria’s inflation is cost-pushed.
12.11.2020 Article list related to forex. Saudi foreign reserves fall at fastest for two decades. Marwa Rashad and Davide Barbuscia, Reuters Posted at Apr 29 08:41 PM. Saudi Arabia's central bank foreign reserves fell in March at their fastest rate in at least 20 years and to their lowest since 2011, while the kingdom slipped into a $9 billion budget deficit in the first quarter as oil revenues collapsed. Central Bank of Nigeria Central Bank of Nigeria Foreign Exchange Manual, to access forex at the CBN FX Home Naira Exchange Rate CBNFrees Naira” As It Creates New Window for Investors Exporters., 2007“Forex Manual Forex: CBN threatens exporters spoke of a provision in the CBN Foreign Exchange Manual that mandates all exporters to repatriate Central Bank of NigeriaCBN The Central Bank of
Oct 07, 2019 · CBN’s adamant posture on forex substitution has released so much naira into the system that the excess liquidity is used to chase the few dollars in supply thus forcing the naira persistently down the precipice. The CBN has always argued that Nigeria’s inflation is cost-pushed. The Central Bank of Nigeria (CBN) has teed off a forex probe into the activities of 55 firms and persons in the currency market, after an initial scrutiny pointed in the way of probable breach of extant foreign exchange laws. The suspected foreign exchange transactions infractions largely have occurred outside the over-the-counter spot market alternatively … Aug 27, 2020 · The Central Bank of Nigeria (CBN) will restart sales of foreign exchange to bureau de change on 31 st August ahead of resumption of international flights, according to a circular from the apex
TheNiche Nigeria’s exclusive online newspaper, that does credible, insightful and investigative reporting. It is refreshingly different in look and feel and reports issues from all sides. It also offers true value for money and time. Nigeria forex trading regulation Central Bank of Nigeria (www.cbn.gov.ng) shortly just CBN is the main regulatory body which controls the capital markets including forex companies. How to choose the right fx broker as a Nigerian trader African continent, especially Nigeria is well known for a widespread forex scam. This, it said, was to stimulate activities in the inter-bank market and stabilise the foreign exchange market. Former CBN Governor, Prof. Chukwuma Soludo, replaced the WDAS with RDAS as an interim measure to tackle excessive demand for foreign exchange for non-approved transactions, as the naira faced pressure in the face of dwindling oil revenues. Central Bank of Nigeria Central Bank of Nigeria Foreign Exchange Manual, to access forex at the CBN FX Home Naira Exchange Rate CBNFrees Naira” As It Creates New Window for Investors Exporters., 2007“Forex Manual Forex: CBN threatens exporters spoke of a provision in the CBN Foreign Exchange Manual that mandates all exporters to repatriate Sep 21, 2020 · The CBN alleged that the companies were engaging in the importation of some items exempted from official foreign exchange and also manipulation of the forex market. The apex bank said the companies were “the cause of the current volatility and imbalance in the foreign exchange regime in Nigeria with the attendant negative impact on the CBN said the fresh measures are part of its efforts to ensure prudent use of the country’s foreign exchange resources and “eliminate incidences of over-invoicing, transfer pricing, double handling charges and avoidable costs that are ultimately passed to the average Nigerian consumer.” Nov 13, 2020 · Weak oil prices amid falling global demand plunged Nigeria’s foreign exchange reserves to $35.63 billion, the lowest in two months, the Central Bank of Nigeria’s latest data has shown. After reaching as high as $45 billion in June 2019, the reserves has been on a downward trajectory since then. Declining to $38 billion earlier this […]