Dollar Exchanges For N590 As Forex Scarcity Bites Harder In Nigeria

Customers’ access to forex, placing a cap of $20 per month for online transactions were also said to have been limited by banks. The Nigerian naira traded at N590 per dollar at the parallel section of the foreign exchange market.…

CBN set to unveil new market-driven FX framework

The Central Bank of Nigeria (CBN) plans to introduce a new market-driven foreign exchange regime, the Governor, Mr Godwin Emefiele has announced. According to him, the new forex regime would open up greater opportunities to grow the manufacturing sector and…

Nigeria strengthening economy attracts forex traders

The forces behind currency markets and what makes them tick is always an interesting topic, especially when you talk about the Nigerian naira. The strength of a country’s currency is often in direct proportion to their fiscal health and political…