The value of the naira dipped against the United States dollar at the three segments of the forex market Monday due to strong demand for the greenback. In fact, an intervention by the Central Bank of Nigeria (CBN), which increased dollar supply at its regulated Wholesale Dutch Auction System (WDAS) […]
Tag: United States Dollar
Forex reserves drop by 1.4%, now $36.4bn
Foreign exchange reserves have fallen by 1.4 per cent month-on-month to $36.40bn on July 25, from $36.93bn recorded a month earlier. The slight drop, representing $53m decline, according to analysts, is attributable to the falling oil prices and strong dollar demand. Forex reserves had plunged in the month of June, […]
