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China’s Yuan Hits Decade Low On Trade, Economy Fears

INEC Must Work Hard To Earn Voters’ Trust In 2019 – REC

  The Chinese yuan weakened to a decade low on Tuesday on concerns over China’s slowing economy and the US trade war, but Beijing was expected to prevent it breaking the psychologically important 7 yuan per dollar barrier. The yuan drifted past 6.96 to the dollar, hitting its weakest levels since May 2008. Breaking 7 could further … Continue reading China’s Yuan Hits Decade Low On Trade, Economy Fears
The post China’s Yuan Hits Decade Low On Trade, Economy Fears appeared first on Channels Television. …

CBN injects $317.52m, CNY 58.40m into retail SMIS

CBN injects $317.52m, CNY 58.40m into retail SMIS

CBN said the Bilateral Currency Swap Agreement with the Peoples’ Bank of China has continued to receive encouraging responses from customers. Uche Usim, Abuja In line with its resolve to boost operations in the retail Secondary Market Intervention Sales (SMIS), the Central Bank of Nigeria (CBN) has injected $317.52 million into that segment of the […]
The post CBN injects $317.52m, CNY 58.40m into retail SMIS appeared first on The Sun News. …

China renews commitment to deepen investments in Nigeria

China renews commitment to deepen investments in Nigeria

“China is today Nigeria’s largest project contractor and second largest trading partner and a major
The post China renews commitment to deepen investments in Nigeria appeared first on – The Sun News. …

CBN directs banks to bid for Chinese yuan

CBN directs banks to bid for Chinese yuan

‘Ifeanyi Onuba and Feyisayo Popoola The Central Bank of Nigeria on Friday commenced its intervention in the sale of foreign exchange in the Chinese yYuan. This signalled the implementation of the Bilateral Currency Swap Agreement signed by the CBN with the People’s Bank of China on April 27, 2018. The apex bank explained in a […] …

BDCs seek Yuan disbursements for PTA, BTA to deepen swap deal

BDCs seek Yuan disbursements for PTA, BTA to deepen swap deal

The Association of Bureaux De Change Operators of Nigeria on Saturday urged the CBN to approve the Chinese currency disbursements to its members, to deepen the China-Nigeria Swap deal. Alhaji Aminu Gwadabe, President, ABCON, told the News Agency of Nigeria in Lagos that the approval would enable BDCs to sell Personal and Business Travelling Allowances […] …

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