• About
  • Advertise
  • Careers
  • Contact Us
Sunday, June 22, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
ADVERTISEMENT
Home Economy Finance

The Naira’s Rebound: Is the Worst Over?

by Techeconomy
November 10, 2023
in Finance
0
Naira and dollar
Naira and dollar

Naira and dollar

UBA
Advertisements

The Naira has been volatile in recent months due to dollar shortages caused by the exit of foreign investors during a period of low oil prices and notable economic pressures.

The Central Bank of Nigeria (CBN) has had difficulty meeting the demand for dollars from foreign investors, banks, and airlines amongst others, which has made investors reluctant to return. This has resulted in the over 60% devaluation of the Naira.

Recently, the CBN began taking steps to address the dollar shortage; including settling the backlog of foreign exchange forward contracts owed to banks estimated at about $7 million.

The apex bank has fulfilled more than 75 percent of the outstanding foreign exchange forwards that have matured in certain banks.

Also, the Finance Minister stated that the country was expecting up to $10 billion in fresh foreign exchange inflows in the coming weeks.

These actions have provided some support to the Naira against the dollar in the parallel market.

It was also gathered that some market speculators were selling dollars they had been hoarding, taking seriously the government’s plan to boost market liquidity.

This has increased the supply of foreign exchange in accessible markets although more recent pricing suggests the rebound is losing steam and reversing.

Stabilize the Naira, US Treasury’s Adeyemo tells Tinubu

Investors can mitigate the effect of the Naira volatility on their portfolio by investing in solutions that match their profile and investment objectives.

Options in order of liquidity include fixed deposits (90 or 180 day), dollar bond funds (typically 180day lock-in) and Eurobonds which are multi-year dollar bonds that pay interest income (coupons) typically every 6-months.

These enable you earn additional income while safeguarding your funds against local currency risk and inflation.

As always, please speak to an Advisor for sound, financial advice.

[Source: AXA Mansard newsletter, November 10, 2023]

Loading

Advertisements
MTN ADS

Author

  • Techeconomy
    Techeconomy

    View all posts
0Shares
Tags: Dollarnaira
Techeconomy

Techeconomy

Next Post
CORONATION GROUP PARTNERS LAGOS STATE, ENTERPRISENGR

Coronation Group Seals Strategic Partnership with Lagos State, EnterpriseNGR

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

Zuchu Named Latest Spotify EQUAL Africa Artist 

3 years ago
Cameron Beveridge SAP - cloud transformation

Experts Hint on Change Management Best Practice for Cloud Transformation Success

2 years ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.