In Nigeria, as elsewhere, foreign exchange markets can be a barometer of internal strife, so when central bank governor Lamido Sanusi noticed a surge in dollar demand at forex bureaux in July, he feared something was amiss. The bank found tens of billions of naira was traded for dollars in […]
Tag: Foreign Exchange
CBN Reports $3.24 Billion FOREX Inflow in April 2013
By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) Tuesday said Foreign Exchange (FOREX) Inflow and outflow in the country April 2013 was US$3.24 billion and US$3.32 billion respectively. Latest figures released by the CBN in its 2013 April Economic Report showed that the US$3.24 billion Inflow and […]
Nigeria forex reserves fall to lowest in 3-months
Nigeria’s foreign exchange reserves fell 0.16 percent month-on-month to $48.33 billion by June 24, the lowest level in more than three months, data from central bank showed on Wednesday. The reserves, however, were up 30.86 percent year-on-year, compared with $36.93 billion the same time last year. Nigeria’s central bank had […]
