29/9/2016/Vanguard As Naira came under fresh pressures in the parallel market Wednesday, the Central Bank of Nigeria, CBN, issued more directives restricting usage of domiciliary accounts by bank customers, apparently to stem the pressures and improve official supply of foreign exchange to the interbank market. As a result of the […]
Money Market
Naira Continues Historic Low, Trades 460/$ at Parallel Market on Increased Demand
By InvestAdvocate Lagos (INVESTADVOCATE)- The naira on Wednesday hit a new historic low as it tumbled to 460 against the United States dollar at the parallel market, down from the 450 recorded on Tuesday, analysts at Cordros Capital said. The depreciation of the nation’s local currency continued in the parallel […]
Scarcity Hits Parallel Market Due to High FX Demand
Culled—-Proshare September 28, 2016/News Indications emerging from the parallel market reveal that majority of the BDCs may not be able to meet the immediate demands of FX users due to low supply in the market. There has been high demand of Foreign Exchange and it has not been business as […]
