The US dollar closed at ₦460/US$1 in the parallel market The exchange rate between the naira and the US dollar for today (Tuesday, September 15th 2020), closed at ₦460/US$1 in the parallel market. The rate had closed at ₦460/US$1 on Monday, September 14th 2020. Naira: ₦460 Dollar: $1 Date: September 15th, 2020 The exchange rate […]
Crude oil prices are expected to recover slowly once economic activities rebound globally. Crude oil prices remained relatively stable at Tuesday’s trading session. Investors and oil traders stayed cautious, ahead of an OPEC+ meeting scheduled for Thursday. At the time this report, Brent crude futures were a bit down by 0.1% to trade at $39.57,
Crude oil prices stay stable, but remain under $40/barrelRead More »
The naira depreciated at the parallel market despite the third round of forex allocation to BDCs. Forex turnover increased by a record of 1540.6% as Nigeria’s exchange rate at the NAFEX window remained stable to close at N386/$1 during intraday trading on Monday, September 14, 2020. In sharp contrast, the naira depreciated to close at
Naira falls to N460/$1 as CBN intervention fails to contain speculationRead More »
The US dollar stands at ₦460/US$1 in the parallel market. The exchange rate between the naira and the US dollar for today (Monday, September 14th 2020), stands at ₦460/US$1 in the parallel market. The rate had also closed at ₦455/US$1 on Friday, September 11th 2020. Naira: ₦460 Dollar: $1 Date: September 14th, 2020 The exchange
Daily Parallel Market exchange rate – ₦460/$1; ₦590/₤1; ₦530/€1Read More »
Forex reserves remain just above $35 despite the pressure on the exchange rate. Nigeria’s external reserves remain stuck at just above $35.7 billion, according to data from the central bank for the week ended September 10th, 2020. Nigeria is in the midst of a foreign currency crisis that has led to multiple devaluations in March,
Why Nigeria’s external reserves is stuck at $35 billionRead More »
Brent lost 6.6% for the week, adding to the previous week’s drop of 5.3%. Crude oil prices closed with a second week of losses, which left the energy market down by more than 10%, over the past two weeks. The slide comes higher than the predicted crude Inventories in the world’s largest economy, and caused
Crude oil prices post more than 10% losses in 2 weeksRead More »
Nigeria’s exchange rate at the NAFEX window depreciated to N386.17 during intraday trading on Thursday, September 10, 2020. Also, the naira depreciated to N455/$1 at the parallel market, despite the sales of another tranche of over $50 million to over 5,000 BDC operators by the Central Bank of Nigeria. Parallel Market: At the black market where forex
Naira falls big across all forex market despite another $50 million allocation to BDCsRead More »
The exchange rate between the naira and the US dollar for today (Thursday, September 10th 2020), closed at ₦455/US$1 in the parallel market. The rate had also closed at ₦445/US$1 on Wednesday, September 9th 2020. Naira: ₦455 Dollar: $1 Date: September 10th, 2020 The exchange rate between the naira and the British pound sterling closed at ₦580/₤1
Daily Parallel Market exchange rate – ₦455/$1; ₦580/₤1; ₦520/€1Read More »
Despite renewed optimism, several factors tend to continue pushing oil prices downwards. The past three weeks have been very volatile for oil with WTI trading at around $37 on Thursday. Just when it appeared the oil bulls were taking prices to pre-pandemic levels; the Bears showed their teeth by taking the markets on a downward
Brent crude prices dropped 0.51% to trade at $40.58 a barrel, after rising 2.5% on Wednesday. Crude oil prices dropped at the Asian trading session on Thursday. The fall in energy prices is coming on growing concerns about fuel demand, after recent data showed that U.S. crude inventories increased last week, rather than falling as
Crude oil prices drop after U.S stockpiles surged higherRead More »
