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: Naira
CBN Sold $2.8bn to Stabilise Naira in Septemb
Despite the pressure faced by the naira at other segments of the forex market in September, the traditional intervention of the Central Bank of Nigeria (CBN) at its regulated Wholesale Dutch Auction System (WDAS) during the month helped to stabilise the naira. However, from today, the WDAS will no longer […]
Loss in naira value not significant – Sanusi
The Governor of the Central Bank of Nigeria, Mr. Lamido Sanusi, has said that the 2.3 per cent loss recorded in naira’s value is not significant, compared to what other emerging markets lost this year. Sanusi, who spoke at the 75th anniversary of the Ikoyi Club in Lagos, said every […]
