At the black market where forex is traded unofficially, the Naira depreciated against the dollar to close at N465/$1 on Monday. Forex turnover dropped by 68.5% as Nigeria’s exchange rate at the NAFEX window appreciated against the dollar to close at N385.67/$1 during intra-day trading on Monday, November 9. Also, the naira depreciated against the dollar, closing at […]
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 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 »
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 »
At the black market where forex is traded unofficially, the Naira appreciated against the dollar to close at N462/$1 on Friday. Forex turnover rose significantly by 194.2% as Nigeria’s exchange rate at the NAFEX window depreciated against the dollar to close at N386/$1 during intra-day trading on Friday, October 30. Also, the naira appreciated against the dollar,
Naira appreciates at black market as forex liquidity is boosted with huge dollar supplyRead More »
Despite the intervention measures by the CBN, why does the disparity between the official and black-market rates remain high? The Nigerian economy has been faced with serious foreign exchange crisis since the first quarter of the year, with severe pressure on the nation’s foreign exchange market and external reserve. The local currency is under the
Why exchange rate disparity remains high despite CBN’s interventionRead More »
The U.S oil-based contract, the major indicator used for U.S. crude prices, sold at 35.79 per barrel. Crude oil traders are presently under immense pressure, as they log in their worst monthly loss since March. The plunge in oil prices is coming on fresh restrictions placed on human mobility around Western Europe, in order to
Oil prices suffer worst monthly decline since MarchRead More »
