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Monetary authorities in developing economies prioritise exchange rate stability to prevent significant disparities between official and parallel exchange rates. In Nigeria, the role of Bureau De Change (BDC) operators in maintaining a stable foreign exchange market is paramount.

Foreign Exchange Stability: The Role of Bureau De Change

Monetary authorities in developing economies prioritise exchange rate stability to prevent significant disparities between official and parallel exchange rates. In Nigeria, the role of Bureau De Change (BDC) operators in maintaining a stable foreign exchange market is paramount. BDCs, licensed by the Central Bank of Nigeria (CBN), are authorised to…
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Ensuring safe and efficient USD transactions in Nigeria is crucial given the fluctuating currency rates and regulatory considerations. Whether you're a business owner, investor, or individual needing to exchange USD, it's vital to employ reliable and secure methods.

3 Secure Methods for Buying and Selling USD in Nigeria

Ensuring safe and efficient USD transactions in Nigeria is crucial given the fluctuating currency rates and regulatory considerations. Whether you’re a business owner, investor, or individual needing to exchange USD, it’s vital to employ reliable and secure methods. Here are three safe ways to buy and sell USD in Nigeria:…
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Recent market statistics have shown the Naira to be fighting back against the CBN’s intervention, now trading at N1510. A few months ago, the Naira hit an all-time low against the dollar, trading for over 1500 for the first time before the CBN intervened and the local currency began to buck its trend. Recent developments, however, indicate that the Naira has defied CBN’s measures and intervention.

NAIRA SHRUGS OFF CBN’S INTERVENTION, DIPS TO 1510/$

Recent market statistics have shown the Naira to be fighting back against the CBN’s intervention, now trading at N1510. A few months ago, the Naira hit an all-time low against the dollar, trading for over 1500 for the first time before the CBN intervened and the local currency began to…
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In a surprising turn of events on April 12, 2024, the Naira reached a remarkable milestone, closing at N1,142/$, backed by consistent interest rate adjustments and a steady flow of capital.

Naira Announced as Top-Performing Currency Globally

In a surprising turn of events on April 12, 2024, the Naira reached a remarkable milestone, closing at N1,142/$, backed by consistent interest rate adjustments and a steady flow of capital. Analysts at the esteemed Goldman Sachs Group have taken notice, acknowledging the Naira’s remarkable performance as the leading currency…
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On February 27, 2024, Nigeria’s Monetary Policy Committee (MPC) made a bold move, increasing the monetary policy rate by a substantial 400 basis points to 22.75%. This decision, which aims to tackle inflation that reached a 28-year high of 29.9%, was coupled with an increase in the cash reserve ratio to 45%. These measures signal a firm commitment to tightening monetary policy and stabilizing the economy, aligning Nigeria more closely with global economic trends and seeking to restore confidence in its financial markets. So today I will be explaining what MPR rate means and its impact on the economy and as a bonus I will be throwing in cash reserve ratio, liquidity ratio, and assymetric corridor.

CBNMPC Raises MPR by 400bps to 22.75%: The Breakdown

On February 27, 2024, Nigeria’s Monetary Policy Committee (MPC) made a bold move, increasing the monetary policy rate by a substantial 400 basis points to 22.75%. This decision, which aims to tackle inflation that reached a 28-year high of 29.9%, was coupled with an increase in the cash reserve ratio…
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