$1.3bn forwards settlement : ‘Naira set for big rise against dollar’

Naira Vs Dollar E1539172078363 New 768x480 1

The Naira is projected to strengthen in the upcoming months after the Central Bank of Nigeria (CBN) settled over $1.3 billion in foreign exchange (forex) forwards contracts last week, according to analysts. Experts at Rand Merchant Bank in Lagos noted that following this settlement, the outstanding unpaid forex forwards contracts from now until December amount … Read more