Nigeria’s mutual fund managers are always “fighting” for positions by growing their assets month over month. The dynamics of Nigeria’s mutual funds industry keeps changing. Changes are being noticed in the size of the total asset value, as well as in the number of funds and fund managers. Another area that has witnessed some significant […]
Brent oil futures gained 2.71% to $40.53 and West Texas Intermediate futures soared higher by 2.91% to trade $38.22. Crude oil prices rallied more than 2% after the outcome of the U.S. election became clear, with both Brent and WTI futures gaining above their critical support levels. However, the worsening COVID-19 attack and soft demand
At the black market where forex is traded unofficially, the Naira appreciated against the dollar to close at N464/$1 on Friday. Forex turnover improved by 9.12% as Nigeria’s exchange rate at the NAFEX window maintained its stability against the dollar to close at N386/$1 during intra-day trading on Friday, November 6. Also, the naira appreciated against the dollar,
Naira gains at black market as improved dollar supply continuesRead More »
At the black market where forex is traded unofficially, the Naira depreciated against the dollar to close at N465/$1 on Thursday. Forex turnover improved significantly by 536.7% as Nigeria’s exchange rate at the NAFEX window maintained its stability against the dollar to close at N386/$1 during intra-day trading on Thursday, November 5. Also, the naira depreciated further against
Naira continues to decline at black market despite huge dollar supplyRead More »
The U.S. elections result currently shows Democrat Joe Biden has 264 of the needed 270 electoral college votes. The yellow metal was arbitrarily up at Thursday’s trading session, as it appeared increasingly likely Joe Biden would become the 46th U.S. president. What we know: Gold futures were up over 0.60% to trade at around $1,908/ounce, it’s
Gold prices up, Joe Biden in striking distance to clinch U.S PresidencyRead More »
The Naira depreciated against the dollar to close at N464/$1 on Wednesday. Forex turnover declined by 89.8% as Nigeria’s exchange rate at the NAFEX window remained stable against the dollar to close at N386/$1 during intra-day trading on Wednesday, November 4. Also, the naira depreciated against the dollar, closing at N464/$1 at the parallel market on
Exchange rate falls at black market as forex liquidity declines by 89.8%Read More »
Brent crude traded above $40/Barrel gaining more than 2%. A positive showing in Trump’s hope for reelection has kept the price of Brent crude above the critical support level above $40/barrel. What we know; At the time of drafting this report, Brent crude traded above $40/Barrel gaining more than 2%. What this means; This is
BREAKING: Brent Crude up, Trump leads in Michigan, PennsylvaniaRead More »
The Naira remained stable against the dollar to close at N463/$1 on Tuesday. Forex turnover rose sharply by 122% as Nigeria’s exchange rate at the NAFEX window depreciated against the dollar to close at N386/$1 during intra-day trading on Tuesday, November 3. Also, the naira remained stable against the dollar, closing at N463/$1 at the
Naira stabilizes at black market as CBN continues its intervention in forex marketRead More »
The Naira depreciated against the dollar to close at N463/$1 on Monday. Forex turnover dropped by 51.5% as Nigeria’s exchange rate at the NAFEX window appreciated against the dollar to close at N385.63/$1 during intra-day trading on Monday, November 2. Also, the naira depreciated against the dollar, closing at N463/$1 at the parallel market on
Naira is weakened at black market, dollar supply drop by 51.5%Read More »
The plunge in all prices is coming on worries of a swathe of COVID-19 lockdowns across emerged markets with softening fuel demand. Crude oil traders are under immense pressure as oil prices dropped more than 3% within a few hours ago. Brent crude plunged as much as 5.8% and the West Texas Intermediate lost as
