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Nigeria: Flexible Forex Regime Takes Off, Faces U.S.$4 Billion Demand
Guardian, 20 June 2016
As the flexible exchange rate policy takes off today, there is no less than $4 billion worth of unmet demand, which has raised a new concern over its clearance within the targeted… Read more »
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Nigeria: New Forex Deal Makes N282 to Dollar At CBN's U.S.$4 Billion Offer
Guardian, 21 June 2016
The Central Bank of Nigeria (CBN) yesterday executed over $4 billion in foreign exchange transactions as the new exchange rate regime begins, while the defied all forecasts and… Read more »
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Nigeria: Naira Now 280/$1 As Flexible Regime Begins
Daily Trust, 21 June 2016
The naira yesterday lost 29 percent of its value, exchanging at 280 to the dollar at the interbank market as the new flexible exchange rate regime commenced. Read more »
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Nigeria: Central Bank to Clear Backlog of Forex Demand
Premium Times, 20 June 2016
The Central Bank of Nigeria has announced plans to clear all existing backlog of Foreign Exchange (forex) demand in the country as its flexible foreign exchange policy take effect. Read more »
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Nigeria: CBN Alters Rules for Selection of Primary Dealers As New FX Regime Takes Off Today
This Day, 20 June 2016
As trading on the Nigeria Interbank Foreign Exchange (NIFEX), which allows the exchange rate of the naira to be market-driven commences today, the Central Bank of Nigeria (CBN) has… Read more »
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Nigeria: Value of Naira Plummets After Nigeria Ends Dollar Peg
DW, 20 June 2016
In response to continued low oil prices, the Nigerian Central Bank floated its currency Monday and the naira subsequently lost over a third of its value. Some are praising the move… Read more »
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Nigeria: CBN's Flexible Forex Regime Starts
Daily Trust, 20 June 2016
The flexible exchange rate policy by the Central Bank of Nigeria (CBN) that will allow the forces of demand and supply to determine the rate of naira will commence today. Read more »
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Nigeria: New Foreign Exchange Policy Will Attract Portfolio Investors, Says Economist
Guardian, 20 June 2016
An economist, Dr Aminu Usman says the new Foreign Exchange (FX) policy recently introduced by the Central Bank of Nigeria (CBN) will encourage portfolio investors to return to the… Read more »
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Nigeria: As New Central Bank Forex Policy Begins
Leadership, 20 June 2016
As the new forex policy introduced by the Central Bank of Nigeria (CBN) takes off today, banks and Bureau De Change Operators (BDCs) are looking forward to handling the $21billion… Read more »
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Rwanda: Central Bank Steps Up Efforts to Check Effects of Dollar Shortage
New Times, 20 June 2016
The National Bank of Rwanda (BNR) has responded to the prevailing US Dollar shortage by increasing the volumes and frequency of supply into the market. Read more »