U.S. West Texas Intermediate fell by 1.57%, to trade at 39.53/barrel, after gaining 4.9% yesterday. Crude oil prices dropped at Asia’s trading session on Thursday morning, after rising in the two previous sessions. The slide was attributed to growing concerns on oversupplies after it re-emerged that some oil installations around the Gulf of Mexico are […]
The Naira depreciated against the dollar to close at N465/$1 on Wednesday. Nigeria’s exchange rate at the NAFEX window remained stable for the third consecutive trading day to close at N386/$1 during intraday trading on Wednesday, September 16. In sharp contrast, the naira remained depreciated to close at N465/$1 at the parallel market as the
Naira falls to N465/$1 as forex ban on food imports pile pressure on black marketRead More »
The US dollar closed at ₦465/US$1 in the parallel market The exchange rate between the naira and the US dollar for today (Wednesday, September 16th 2020), closed at ₦465/US$1 in the parallel market. The rate had closed at ₦465/US$1 on Tuesday, September 15th 2020. Naira: ₦465 Dollar: $1 Date: September 16th, 2020 The exchange rate between the
Daily Parallel Market exchange rate – ₦465/$1; ₦595/₤1; ₦540/€1Read More »
At the black market where forex is traded unofficially, the Naira remained stable against the dollar to close at N465/$1 on Tuesday. Nigeria’s exchange rate at the NAFEX window remained stable to close at N386/$1 during intraday trading on Tuesday, September 15. Also, the naira remained stable to close at N465/$1 at the parallel market after fresh
Exchange rate stabilizes across forex markets as BDC window gets fresh dollar supplyRead More »
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
Daily Parallel Market exchange rate – ₦460/$1; ₦600/₤1; ₦535/€1Read More »
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 »
