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Anticipated $3.4bn SDRs from IMF, $6.2bn Eurobond Issuance Lift Naira at BDC, Parallel Markets

Naira-for-dollar policy to reduce gap between parallel, I&E exchange rates —Experts


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WITH the premium between the parallel market and the Investors and Exporters Foreign Exchange  (IEFX) rate estimated at N71, the Naira-for-Dollar policy of the Central Bank of Nigeria (CBN) is likely to reduce the gap, say experts at Financial Derivatives Company (FDC) Limited.
Already, Naira fell against the U.S. dollar at the Investors & Exporters (I&E) window of the foreign exchange market on Friday, data from the FMDQ Security Exchange where forex is officially traded showed.
Also, the currency weakened at the parallel market. Naira closed at N410.00 at the trading session of the I&E window on Friday, a N1.00 or 0.25 per cent devaluation from N409.00 it closed at the previous session on Thursday. ....

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IMF Sees 1.5% Real Output Growth for Nigeria in 2021


As Proffers Solutions for Recovery…
In the just concluded week, the International Monetary Fund’s Executive Board released the report of their assessment of the 2020 Article IV
Consultation with Nigeria, highlighting the weakened state of the economy and proffering ways to improve fiscal policy sustainability, exchange rate stability, price stability and sustainable output growth.
The Executive Directors urged the Nigerian authorities to reduce fiscal sustainability risks by increasing
revenue mobilization via progressive taxation and improved efficiency in tax administration.
The suggested fiscal measures, meant to
complement ongoing reforms by the Federal
Government to reduce inefficiencies via removal of subsidies in the downstream oil & gas and power sectors, were to be accompanied by the provision of social safety nets to cushion potential negative impacts on the poor. ....

United States , International Monetary Fund Executive Board , Proffers Solutions For Recovery , Investors Exporters Foreign Exchange Window , Dangote Oil Refinery , Us Energy Information Administration , Petroleum Industry , International Monetary Fund , Executive Board , Executive Directors , Exporters Foreign Exchange , African Continental Free Trade Area , Information Administration , Texas Intermediate , Bonny Light , Petroleum Industry Bill , ஒன்றுபட்டது மாநிலங்களில் , சர்வதேச பண நிதி நிர்வாகி பலகை , முதலீட்டாளர்கள் ஏற்றுமதியாளர்கள் வெளிநாட்டு பரிமாற்றம் ஜன்னல் , பெட்ரோலியம் தொழில் , சர்வதேச பண நிதி , நிர்வாகி பலகை , நிர்வாகி இயக்குநர்கள் , ஏற்றுமதியாளர்கள் வெளிநாட்டு பரிமாற்றம் , டெக்சாஸ் இடைநிலை , பன்னி ஒளி ,