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  • May 7 2018

    CBN Injects $349.34m Into Retail SMIS - THE BREAKING TIMES

    The Central Bank of Nigeria (CBN), has injected the total sum of $349.34 million in the Retail Secondary Market Intervention Sales (SMIS) segment of the Forex market.

    Figures obtained from the CBN, weekend, showed that the interventions were meant to meet obligations in the agricultural, airlines, petroleum products and raw materials and machinery sectors.

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    May 7 2018

    CBN auctions $559m in three days as reserves near $48 billion - GUARDIAN

    A Combined two foreign exchange (forex) market interventions by the Central Bank of Nigeria (CBN), on Wednesday, at the weekend hit $559.34million, as the monetary policymaker sustained efforts to keep the market liquid and stabilise the local currency.

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    May 7 2018

    Forex - Dollar Holds Near 4-Month High in 4th Week of Gains - INVESTING

    Investing.com - The dollar started the week off in a continuation of recent upward momentum coming off three straight weeks of gains..

    At 4:52AM ET (8:52GMT) Monday, the U.S. dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, rose 0.18% to 92.59, close to its 2018 peak of 92.75.

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    May 7 2018

    UPDATE 1-China's April FX reserves fall to 5-month low as dollar bounces - REUTERS

    BEIJING, May 7 (Reuters) - China's foreign exchange reserves in April fell more than expected, to a five-month low, as the U.S. dollar rebounded and on growing signs that Chinese regulators are less worried about capital flight.

    Reserves fell $17.97 billion in April to $3.125 trillion - the lowest since November 2017, compared with a rise of $8.34 billion in March, central bank data showed on Monday.

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    April 27 2018

    Analysts foresee single world currency in growing technology disruption - PUNCH

    Financial and technology analysts have said a single world currency is imminent given the growing technology disruption in the financial services industry typified by the popularity of blockchain adoption and its offshoots, cryptocurrencies.

    The Managing Director and Chief Executive Officer of Precise Financial Systems, Yele Okeremi, and the Lead, Digital and Robotics Practice, Ernst &Young Nigeria, and Akinsope Roberts, gave the insight on Thursday in Lagos at the maiden Business AM/GTI Finance and Investment Dialogue.

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    April 24 2018

    Nigerians living abroad sent $22bn home in 2017 - World Bank - PUNCH

    Nigerians living abroad sent home $22bn in 2017, a 16.4 per cent increase from the amount they repatriated in 2016, a World Bank report revealed on Monday.

    Payments from immigrants back to their home countries rebounded to reach the new record in 2017 but the costs of transferring funds also increased, the World Bank said on Monday.

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    April 23 2018

    CBN Boosts Retail SMIS with $396.18m - PROSHARE

    In its relentless move to guarantee liquidity in the foreign exchange market, the Central Bank of Nigeria (CBN) has intervened in the Retail Secondary Market Intervention Sales (SMIS) segment of the market to the tune of $396.18million.

    According to figures obtained from the CBN on Friday, April 20, 2018, the released sum is meant to meet obligations in the agricultural, airlines, petroleum products and raw materials and machinery sectors.

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    April 23 2018

    What To Expect From The Markets This Week- 230418 - PROSHARE

    Recently, the International Monetary Fund in its April outlook on the global economy stated that earlier cyclical pressure is easing off and emerging economies are beginning to return to normalization. However, the fund was of the opinion that trade frictions and geopolitical tension is downside to global growth. Even though it pointed this out, trade trust seem to be at its lowest ebb largely to concerns of intellectual property rights and the role of subside in external trade.

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    April 9 2018

    CBN, banks plan fresh N60bn disbursement to boost economy - Sun

    The Central Bank of Nigeria (CBN) and the Deposit Money Banks (DMBs) may be fine-tuning plans to disburse N60 billion, being 5 per cent of their profit to buoy various developmental initiatives of the Federal Government.

    This was as the CBN Governor, Mr. Godwin Emefiele, at the weekend rejigged portfolios of Deputy Governors of the apex bank with Aisha Ahmad taking over the Financial System Stability (FSS) Directorate from Dr. Joseph Nnanna Okwu, who now moves to the Economic Policy Directorate. Mr. Edward Lemetek Adamu, has been assigned the portfolio of Deputy Governor, Corporate Services, while Mr. Adebayo Adelabu retains his portfolio as Deputy Governor, Operations Directorate.

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    April 9 2018

    $46.7b foreign reserves keep naira stable - The Nation

    The naira remains stable at the official and parallel markets, with the foreign exchange (forex) reserves standing at $46.7billion, a report by Exotic Capital, an investment and research firm, has said.

    The naira exchanges at 362 to the dollar in the parallel market and 305.6 in the official market. It has remained at those rates since April, last year, after the Central Bank of Nigeria (CBN) resumed forex interventions in the market.

    The report said although the level of reserves was still below the record high of $64 billion realised in August 2008, it is nearly double the $24 billion recorded in October 2016, increasing by more than $22 billion in 15 months.

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