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The Central Bank of Nigeria has issued guidelines to banks on implementing the free foreign exchange deposit window announced by the Federal Government recently. The guidelines released by the CBN on Tuesday provided the modalities for the participation of commercial, merchant, and non-interest banks in the scheme. The notice of the scheme guidelines, which takes
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The Nigerian naira has continued significant depreciation against the dollar at the foreign exchange market as FX supply dropped at the start of the week. FMDQ data showed that the naira weakened significantly to N1690.37 per dollar on Monday from the N1652.25 exchange rate on Friday last week. This represents N38.12 depreciation against the dollar.
Naira records significant depreciation against dollar
The Nigerian naira has continued significant depreciation against the dollar at the foreign exchange market as FX supply dropped at the start of the week.
FMDQ data showed that the naira weakened significantly to N1690.37 per dollar on Monday from the N1652.25 exchange rate on Friday last week. This represents N38.12 depreciation against the dollar.
Meanwhile, at the black market, the naira remained flat at N1740 per dollar on Monday, the same rate at the close of work last week.
This comes as FX transaction turnover decreased to $173.14 million on Monday from $296.63 million recorded on Friday last week.
Naira records significant depreciation against dollar
Claudia Sheinbaum was sworn in Tuesday as Mexico’s first woman president, inheriting a country beset by gang violence and economic uncertainty over controversial reforms passed by her powerful ruling party. To cries of “Long live Claudia! Long live Mexico!” the 62-year-old former Mexico City mayor took the oath of office and received the presidential sash
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Claudia Sheinbaum was sworn in Tuesday as Mexico’s first woman president, inheriting a country beset by gang violence and economic uncertainty over controversial reforms passed by her powerful ruling party. To cries of “Long live Claudia! Long live Mexico!” the 62-year-old former Mexico City mayor took the oath of office and received the presidential sash
Anambra State governor, Prof Chukwuma Soludo has flagged off a youth empowerment programme to train 8,000 youths in the state,…
