Fri Jul 24, 2015/Reuters Nigeria’s foreign exchange reserves rose $30.69 billion by July 22, up 5.6 percent from $29.03 billion a month earlier, latest data from the central bank. However, the forex reserves of Africa’s top crude exporter were down20.9 percent from $$38.8 billion a year ago. The growth in […]
Money Market
Nigeria’s Central Bank Retains Rate at 13%
By InvestAdvocate Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) on Friday retained its benchmark interest rate on hold at 13 percent with a corridor of +/- 200 basis points around the midpoint after the two (2) days Monetary Policy Committee (MPC) Meeting. Godwin Emefiele, governor of the CBN said its […]
CBN Adjusts Exchange Rate Fifth Time to N197 since February
By InvestAdvocate Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) on Thursday adjusted the exchange rate to N197 to a dollar from N196.95 it set last week, according to a Reuters report quoting data on the bank’s website. The report says this is the fifth time an adjustment has been made […]
