Tag Archives: Naira Exchange Rate

  “Before suggesting ways out, I want to ask. MUST NIGERIA FOREX OPERATION INVOLVE BUREAU de CHANGE? Because there are countries where BDCs don’t exist. Rather, all their banks have boots in their airports where visitors drop and change their money before entry” PEGASUS REPORTERS, LAGOS | SEPTEMBER 30, 2024 1. I appreciate President Tinubu’s efforts on plans to revamp ...

  “To start off, the CBN deployed a simple law of economics; if demand increases, price will increase. It offered to test the market by selling FX to BDCs at a rate lower than the prevailing parallel market price. This is called market making and is an extension of the obligations of the central bank to provide market stability.” PEGASUS ...

  “The decline, according to the analysts, can be attributed to the reduced inflow of petrodollars into Nigeria’s economy despite the rally in crude oil prices due to the upbeat in oil demand since the Russian invasion of Ukraine in February 2022” PEGASUS REPORTERS, LAGOS | NOVEMBER 15, 2022 After a week of gaining on the dollar across the black ...

  I urged the CBN to diversify the issuance of PTA away from the US Dollar as a way of breaking that market and even encouraging a closure of the gap between official and parallel fx markets. PEGASUS REPORTERS, LAGOS | OCTOBER 19, 2021 I reviewed a 10-years graph of the interaction between Naira and USD and found that in ...

  A country where few people have access to federal reserve and those few can get loans are not because of what they can produce but the connection they have, is that country not gone already? PEGASUS REPORTERS, LAGOS | OCTOBER 2, 2021 1. Appreciation and depreciation of the currency is not related to race or color or who is ...

  Nwanisobi who’s the Director of Corporate Communications, just like the CBN Governor, has refused to acknowledge the parallel FX market as a significant part of the currency market. PEGASUS REPORTERS, LAGOS |SEPTEMBER 21, 2021 The Central Bank of Nigeria (CBN) has rebuffed calls for the resignation of its Governor, Godwin Emefiele, amid naira exchange rate concerns. Information guide Nigeria ...