Thursday , February 6 2025

Tag Archives: Dollar

External Reserves Dip by $915 Million

External Reserves Dip by $915 Million

Nigeria’s external reserves dropped by $915m after the Central Bank of Nigeria officially floated the naira and liberalised the foreign exchange market. CBN data obtained on Sunday showed that the reserves, which stood at $34.66bn as of June 14, 2023, when the naira was floated, fell to $33.74bn as of …

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CBN Gives Assurance on Forex as International Flights Resume

international flights

Central Bank of Nigeria (CBN) has said it would restart the auctioning of foreign exchange to bureau de change (BDC) operators once international flights resume. In a conversation with THISDAY, CBN Director, Corporate Communications, Mr. Isaac Okorafor said this was because BDCs’ customers are mainly international travellers. Minister of Aviation, …

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Naira Gains, Exchanges 430/$ as Forex Sale Resumes

The naira sold for N430 to a dollar on Monday, gaining some strength over previous week’s sales figures, following the resumption of forex sales by the Central Bank of Nigeria on April 29, 2020. After four weeks of forex sales suspension, the CBN resumed the provision of foreign exchange to …

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Naira takes a further nosedive, dollar sells for N412

Naira dollar

The dollar exchanged for N412 on Monday at the Bureau De Change segment of the market. This followed a temporary suspension of sale of forex to the Bureau De Change operators in the industry by the Central Bank of Nigeria. The Association of Bureau De Change Operators of Nigeria had …

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