Latest Naira exchange rate against Dollars and Pounds on the parallel, BDC and CBN black market

2016 Hajj: CBN authorises banks To Sell dollars to pilgrims @ N197 – Vanguard

The Central Bank of Nigeria, CBN, on Thursday, directed banks and authorised forex dealers to sell the Pilgrims Travelling Allowance, PTA, to intending pilgrims at a concessionary exchange rate of N197 to $1.


Hajj Pilgrims from Nigeria

In a circular on Thursday, marked, TED/FEMFPC/GEN/01/005, the CBN said: “Each pilgrim is entitled to purchase a minimum of $750.00 and maximum of US$1,000.00 as PTA. The Federal Government has approved that intending pilgrims are to be …

04/08/2016 – Naira Exchange Rate

Official BDC and CBN exchange rate for Naira against Dollar, Pounds and Euro for 04/08/2016.

03/08/2016 – Naira Exchange Rate

Official BDC and CBN exchange rate for Naira against Dollar, Pounds and Euro for 03/08/2016.

Naira stable against dollar as CBN meets over economy – PMNEWS

The Naira on Monday remained stable at the parallel market.

The Nigerian currency maintained N378 to the dollar at the close of trading on Monday afternoon, keeping same value as at Friday.

Also, the naira maintained N495 to the Pound Sterling, but weakened further against the Euro, exchanging for N415, from N407 posted on Friday at the Bureau de Change (BDC) Segment of the market.

The naira continued a downward slope at the interbank segment of the market, hitting a …

CBN Meets Over Volatile Naira, Interest Rate

The Monetary Policy Committee (MPC) is set to review recent developments in the global and domestic economy at a crucial two day meeting commencing tomorrow in Abuja.

Topping the agenda for the meeting is the volatility of the naira in the parallel market in the aftermath of the introduction of the flexible forex policy regime, likely interest rate hike, and rising inflation.
Ahead of the meeting, the Central Bank (CBN) has lifted the ban on forex sales to …

Overnight Rate Spikes As CBN Supports Currency – Independent

Interbank overnight lending rate jumped as high as 40 percent on Friday, well up from 18 percent penultimate week, after the central bank drained naira liquidity from the market to support the currency after it hit a record low, traders said.

Commercial banks were also paying for purchases of foreign currency and treasury bills, traders said, thereby further reducing the amount of naira in the banking system.

The naira hit an all-time low of N331 on Friday, prompting the central …

Naira Gains on Interbank as CBN Settles $697m Forward Contracts – Thisday

The naira found relief on the interbank FX market yesterday as it appreciated following the settlement of the one-month forward contracts of $697 million by the Central Bank of Nigeria (CBN).


Specifically, the naira gained N2.45 to close at N307.43 to a dollar yesterday, up from the N310.43 to a dollar it closed the previous day.

Currency dealers attributed the performance of the naira yesterday to an increase in market liquidity as a result of the funding of the forward …