Tuesday 16th February 2021: The exchange rate between the naira and the dollar depreciated slightly closing at N410/$1 at the NAFEX (I&E Window) where forex is traded officially. This is as the naira hit N423.15/$1 during trading day despite the global oil prices crossing the $64 mark. Naira closed against the US Dollar at N410/$1, […]
Crude oil prices were all fired up at the fourth trading session of the week, as it continued an almost week-long bullish run, passing 13-month highs. The arctic blast presently in play at Texas continues to distort oil production, with more than 20% of U.S. refining output and a million barrels of oil output closed
Oil prices sells above $65 per barrel, passing 13-month highRead More »
Tuesday 16th February 2021: The exchange rate between the naira and the dollar remained stable closing at N409.67/$1 at the NAFEX (I&E Window) where forex is traded officially. This is as the dollar supply rose slightly by 8% on Tuesday. Naira closed against the US Dollar at N409.67/$1, this was the same rate that it closed
Exchange rate maintains N409/$1 for second consecutive dayRead More »
Monday 15th February 2021: The exchange rate between the naira and the dollar depreciated closing at N409.67/$1 at the NAFEX (I&E Window) where forex is traded officially. This is as the dollar supply dropped by 71% on Monday. Naira closed against the US Dollar at N409.67/$1, representing a 1.24% drop compared to N404.67/$1 recorded at
Friday 12th February 2021: The exchange rate between the naira and the dollar depreciated closing at N404.67/$1 at the NAFEX (I&E Window) where forex is traded officially. Naira closed against the US Dollar at N404.67/$1, representing a 1.17% depreciation compared to N400/$1 recorded at the close of trade on Thursday, 11th February 2021. This also
For the first time at NAFEX, Exchange rate maintains N400/$1 for a straight one weekRead More »
Tuesday 9th February 2021: The exchange rate between the Naira and the US Dollar traded for as high as N422.59 at the Investor and Exporter in the clearest sign yet that another devaluation might be around the corner. However, the exchange rate closed at N401/1 representing a 0.63% decline compared to the closing rate of N398.5/$1 recorded on Monday, 8th
Another devaluation around the corner as dollar at NAFEX sells at N422.59Read More »
On February 5, 2021, the exchange rate between the naira and the dollar appreciated closing at N396.17/$1 at the NAFEX (I&E Window) where forex is traded officially. On the parallel market where forex is traded unofficially, the naira exchanged for the dollar at N480/$1 unchanged from the previous days trading. Trading turnover at the I&E window rose
Naira gains value at NAFEX window as Oil prices approach $60 markRead More »
Did the CBN just signal another devaluation is looming? The Central Bank of Nigeria has revised its one-year Non-Deliverable Forwards (NDF) for which it intends to settle foreign exchange futures contracts for the period ending February 2021 to N452.82 up from N440.86. The NDF is a closely watched indicator of the direction of the exchange
Exchange Rate: CBN agrees to settle February Non-Deliverable Forwards (NDF) at N412/$1Read More »
On February 2, 2021, the exchange rate between the naira and the dollar depreciated closing at N395/$1 at the NAFEX (I&E Window) where forex is traded officially. However, during the intraday trading, the exchange rate traded for as high as N416.95/$1, the highest intraday trading. This is as dollar supply rose significantly by 146.9% as demand puts
Naira weakens at NAFEX window, hits a record N416.95/$1 during tradingRead More »
The exchange rate at the black market where forex is traded unofficially depreciated at N480/$1 and during the intraday trading at NAFEX. On January 29, 2021, the exchange rate at the black market where forex is traded unofficially depreciated at N480/$1. The exchange rate at the parallel market closed at N478/$1 on the previous trading day of
