Dollar Loses 5 Points To Naira

Dollar Loses 5 Points To Naira

Today, the dollar lost 5 points against the naira in all the major segments of the market. Officially, the Nigerian currency has gained five points to exchange at N385 to the Dollar from the N390 recorded on Wednesday. The Pound Sterling and the Euro traded at N495 and N410, respectively. At the Bureau De Change (BDC) […]

Financial Stocks Lift NSE’s Turnover By N10.3b

Financial Stocks Lift NSE’s Turnover By N10.3b

some insurance companies and banks, especially Continental Reinsurance, last week, did some Heavy transactions which lifted the volume of shares traded, as a turnover of 309 billion shares worth N10.323 billion were recorded in 13,042 deals by investors on the floor of the Exchange. This volume of shares traded was, however, higher than a total of […]

Central Bank Pumbs $100 Million Into Interbank Market

Central Bank Pumbs $100 Million Into Interbank Market

In order  to sustain its intervention in the foreign exchange market to boost the inter-bank market and enhance the value of the Naira against other international currencies, the Central Bank of Nigeria, CBN, on Thursday injected another $100 million to meet the requests of wholesale customers. Out of the amount, about $91 million was taken by […]

Dollar Drops Below N400/$

Dollar Drops Below N400/$

This is the first time in seven months, the dollar fell below the psychological N400 barrier, when the greenback traded at N399 to the dollar in Lagos and exchanged at N395 in Abuja, lower than N410 at which it traded on Tuesday. With the gains made by the local currency in the last five weeks, […]