Tag: Forex
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Customers rush as banks buy dollars online at rates better than black market
Bank customers went into a frenzy on Tuesday after learning some banks had set up platforms to allow depositors electronically convert their dollars to...
Forex reform prompts delay in stripping Nigeria of ‘frontier market’ status
MSCI, the global equity index provider, says it will defer its plan to remove Nigeria from its list of frontier markets, to allow a...
Naira touches record lows on spot and forwards market
The naira closed at another record low against the dollar Thursday at both spot and forwards markets as the currency’s volatility continues after the...
Naira: CBN says more action coming in “weeks”
The Central Bank of Nigeria (CBN) plans to announce further measures to loosen foreign exchange controls "in the next couple of weeks," Deputy Governor...
Black market struggles after Naira’s big drop on official market
The naira fell 36% on Wednesday, the most in seven years, after the Central Bank of Nigeria removed controls and allowed the currency to...