Home Topics Renminbi

Renminbi

The wrong way to defend the naira

The Central Bank of Nigeria has injected over $10.97bn, into the Forex Market between January and October this year, to defend the Nation’s currency, the Naira, against other major currencies, including the dollar.” (See Punch Newspaper report of November 18th 2018 titled “CBN Defended Naira with $11bn in 10 months”).

Central bank injects $318.03m into forex market

The Central Bank of Nigeria (CBN) on Friday said it injected about $318.03 million into the retail secondary market intervention sales (SMIS) of the inter-bank foreign market.
President Donald Trump speaks during his meeting to discuss potential damage from Hurricane Michael, in the Oval Office of the White House in Washington, Wednesday, Oct. 10, 2018. (Pablo Martinez Monsivais-Associated Press)

China defies Donald Trump tariffs, trade surplus soars

China’s trade surplus with the United States ballooned to a record $34.1 billion in September, despite a raft of US tariffs, official data showed Friday, adding fuel to the fire of a worsening trade war.
China's Yuan

Forex: Central bank provides $317.52m, CNY58.40m for agric, raw materials

The Central Bank of Nigeria (CBN), on Friday, provided 317.52 million dollars and 58.40 million Chinese Yuan (CNY) to customers seeking foreign exchange in the agricultural and raw material sector.

Forex: Central bank injects $303 million, CNY 46.58 million into Retail SMIS

The Central Bank of Nigeria (CBN), on Friday, injected the sum $303.91 million into the interbank retail Secondary Market Intervention Sales.
6 PRESIDENT BUHARI AT FOCAC OPENING CEREMONY & BUSINESS SUMMIT

President Buhari seeks China’s support on Mambilla power project

The President noted that with the reviewed bilateral cooperation between Nigeria and China, majority of citizens from both countries see improvement in their living conditions.

Central bank boosts forex market with $543 million, CNY63 million

The Central Bank of Nigeria (CBN) has boosted the operations of the inter-bank foreign exchange market with about $543.22 million and CNY63.21 million after two days interventions.
(FILES) This file photo taken on February 9, 2017 shows Chinese 100 yuan notes in Beijing. The Chinese currency continued its sharp decline on July 20, 2018 despite US President Donald Trump's bid to rein in the dollar, as analysts pointed out that a weaker yuan aids Beijing in its trade tussle with Washington. / AFP PHOTO / FRED DUFOUR

Stanbic IBTC sensitises traders on Naira-Yuan swap deal

The forum was meant to provide insight into how best to help clients and businesses leverage the opportunity as well as assess the impact of the Chinese economy on trade in Africa.

CBN injects $327m, CNY 69m into Retail SMIS

The Central Bank of Nigeria (CBN), on Friday, August 10, 2018, injected the sum $327,440,499.50 into the interbank retail Secondary Market Intervention Sales.
China's Yuan

CBN Yuan auction estimated at N3.6 billion

The Central Bank of Nigeria (CBN) has estimated its first auction of the Chinese Yuan Renminbi (CNY) at N3.6 billion, an exchange rate between N49 and N51 per Yuan.

Bureaux de Change want Chinese Yuan for customers

The Association of Bureaux De Change Operators of Nigeria (ABCON) has urged the CBN to approve Renminbi (Yuan) disbursements to its members to deepen the China-Nigeria Swap deal.

Central bank to commence auctioning Chinese yuan

The Central Bank of Nigeria (CBN) on Thursday, released guidelines for the bilateral currency swap agreement between Nigeria and China.

Central bank issues guidelines on Naira-Renminbi swap deal

The Central Bank of Nigeria (CBN) on Thursday released guidelines for the bilateral Currency Swap agreement between Nigeria and China.

CBN: 41 items still banned under Nigeria-China currency swap deal

The Central Bank of Nigeria (CBN) said the Nigeria-China currency swap deal would not cover the importation of the 41 items banned in its 2015 circular on items not valid for foreign exchange.

China raises yuan rate to 16-month high as dollar sags

China raised the exchange rate for the yuan against the US dollar for the 10th consecutive session Friday, pushing the unit to its highest level in 16 months.

Recent Stories

The Ekiti State Deputy Governor, Chief Bisi Egbeyemi, has appealed to the people of Isaba-Ekiti in Ikole Local Government Area of Ekiti State to maintain peace over the vacant kingship stool.

Ekiti government warns land officials against dirty deals

Deputy governor of Ekiti State, Otunba Bisi Egbeyemi, has warned officers in charge of land allocation in the Ministry of Land, Housing and Urban Development, against illegal land deal that could cause chaos among the people.
Ovie Ejaria

Steven Gerrard: Ovie Ejaria hasty in Liverpool return

Former Nigeria U17 invitee Ovie Ejaria may have been singing Hosanna in the highest following cut short loan deal and return to parent club Liverpool, but Rangers manager and Liverpool great Steven Gerrard believes the decision is not the best for the 21 year old.
MUHAMMADU BUHARI 1

Muhammadu Buhari presents N8.83 trillion budget for 2019 to National Assembly

President Muhammadu Buhari on Wednesday unveiled a federal budget of N8.83 trillion for the 2019 fiscal year.

Muhammadu Buhari: Alex Badeh’s murder sad, unfortunate

President Muhammadu Buhari has described the killing of former Chief of Defence Staff, Air Chief Marshal Alex Badeh (rtd) as “very sad and unfortunate.”
Lewis Hamilton

Toto Wolff: Lewis Hamilton deserves more recognition

Lewis Hamilton may be the greatest Formula One driver of all time, but ‘negativity and envy’ are denying him the recognition he deserves, according to his Mercedes team boss Toto Wolff.