Naira closes week with 0.42% drop to dollar

The foreign exchange (FX) market closed the week with Nigeria’s currency dropping by 0.42 percent as the dollar was quoted at N477 on Friday compared to N475, quoted last week on the black market. Naira depreciation was as a result of strong demand for foreign exchange amid a shortage of dollars. At the Bureau De……

Naira weakens at I&E window as FX turnover rises by 233.58%

Nigeria’s currency on Wednesday depreciated by 0.21 percent at the Investors and Exporters (I&E) forex window, in spite of increased dollar supply, which rose by 233.58 percent. After trading on Wednesday, the naira/dollar exchange rate closed at N394.17k as against N393.35k closed on the previous day, data from FMDQ indicated. Foreign exchange market dealers maintained……

Naira firms against dollar across FX markets

Nigeria’s currency on Wednesday strengthened against the dollar across foreign exchange market segment, driven by forces of demand and supply. The local currency gained 0.21 percent as the dollar closed at N474 on Wednesday as against N475 on Tuesday at the parallel market. Naira remained stable at the Bureau De Change (BDC) segment of the……

Nigeria raised N3.62 trn through treasury bills issue in 2020

Nigeria’s Federal Government in 2020, raised N3.62 trillion through the issue of treasury bills (NT-Bills) across various tenor buckets. The Federal Government of Nigeria, through the Central Bank of Nigeria, issues Nigerian Treasury Bills to provide short-term funding for government budget deficit. The treasury bills are usually issued through a competitive bidding process, quoted and……

Nigeria’s naira firms as U.S Congress confirmation of Biden’s win boosts risk sentiment

Nigeria’s naira firmed in early Thursday trade against the dollar, which languished near its lowest in nearly three years, after Congress certified the victory of the president-elect, Joe Biden, clearing the way for a larger fiscal stimulus and boosting risk sentiment. Georgia Democrats Raphael Warnock and Jon Ossoff have also been declared winners in the……