Nigeria’s Foreign Reserves Dip By $77.23m Amid FX Crisis
In the ongoing battle to stabilize Nigeria's foreign reserves, figures from the Central Bank of Nigeria revealed a decline of about $77.23 million
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CBN Sustains Market Intervention To Stabilize Exchange Rates, Announces New Measures
In its half-year financial markets report, the Central Bank of Nigeria (CBN) revealed that it has maintained efforts to alleviate demand pressures and ensure exchange rate stability. Mr. Fola Shonubi, the then acting governor of the Central Bank of Nigeria highlighted the
Naira Now Undervalued – Bank Of America
Following the floating of the naira in the foreign exchange market, the Bank of America (BoA) says the local currency has moved from being overvalued to undervalued. The American multinational investment bank projects that the value of the naira would settle at
High Demand Pushes Up Dollar Rate In Official Channel, Naira Gains In Black Market
The FMDQ Exchange disclosed that the official exchange rate between the naira and the dollar rose on Thursday, 19 January 2023, as the local currency closed weak. According to data published by the exchange rate tracker, the dollar exchanged for the naira
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