Tag
INVESTORS AND EXPORTERS
The Central Bank of Nigeria, CBN, has ordered banks to apply exchange rates in the Investors and Exporters...
Forex traders are wondering what next from the CBN.
Exchange rate faced significant pressure due to declining external reserves and falling crude oil prices.
A cursory look at data from FMDQ shows that the turnover for the day witnessed significant drop.
The performance of the naira at the I&E window, however, seems to contrast with that at the parallel market where the local currency lost N3 to a dollar as it depreciated to N450 to a dollar on Friday.
According to Moody’s Investors Services, the depreciation in Naira will put a strain on the assets of Nigerian banks struggling to raise asset.
Following the success of the Investors and Exporters (I&E) window in the past year, during which about $45...