Stuck at $40, static oil prices mean exchange rate crisis could remain till next year. Nigeria’s current account deficit and the exchange rate could remain under pressure longer than expected due to analyst outlook of the price of crude oil. Crude oil prices have been stuck at $40 per barrel and could remain at these levels for the next […]
Oil futures fell precipitously on Wednesday amid mounting fears of oil demand recovery. Crude oil prices dropped lower at Asia’s trading session on Wednesday. The price plunge in the hydrocarbon commodity is attributed to oversupply fears, as U.S. refineries are beginning to shed labor force. Brent oil futures dropped 1.17% to $40.55 by 4.57 GMT
The Naira depreciated against the dollar to close at N470/$1 on Tuesday. Nigeria’s exchange rate at the NAFEX window appreciated against the dollar to close at N385.75/$1 during intraday trading on Tuesday, September 29. In contrast, the naira depreciated against the dollar, closing at N470/$1 at the parallel market on Tuesday, September 29, 2020, as
Exchange rate is back to N470/$1 as external reserve continues its declineRead More »
Forex liquidity improves by 57% as Nigeria’s exchange rate at the NAFEX window remained stable to close at N386/$1 during intraday trading on Monday, September 28. Also, the naira remained stable for the third consecutive day, closing at N467/$1 at the parallel market on Monday, September 28, 2020. Parallel market: At the black market where forex is
Naira maintains stability at forex markets as dollar supply rise by 57%Read More »
Oil traders are concerned about the blurred demand outlook in the short term. Oil prices dragged lower at Monday’s trading session in Asia. Traders are deeply worried over rising COVID-19 cases upsetting hopes for a smooth recovery in energy demand, with both main oil benchmarks on track for their first monthly declines in multiple months
The Naira remained stable against the dollar at the Investors and Exporters (I&E) window on Friday. Nigeria’s exchange rate at the NAFEX window remained stable to close at N386/$1 during intraday trading on Friday, September 25. Also, the naira remained stable for second consecutive day, closing at N467/$1 at the parallel market on Friday, September 25, 2020, as
Amid rising COVID-19 caseloads and other militating factors, the greenback recently surged high. The U.S dollar surges past fresh two-month highs at the last trading day of the week. In addition to the impressive run, the safe-haven currency is set to finish this month with its biggest weekly increase since March as traders flock to
Brent crude (LCOc1) was up 0.41% to trade at $42.11 a barrel by 0706am GMT. Crude oil prices rallied higher on Friday at the opening of London’s trading session. The black liquid is on track for a weekly decline because of rising concerns about the global resurgence of COVID-19 infections and its effects on fuel
Oil prices propel above $40/barrel but bulls prospect remains weakRead More »
The Naira remained stable against the dollar to close at N467/$1 on Thursday. Forex turnover improved by 43% as Nigeria’s exchange rate at the NAFEX window stabilized to close at N386/$1 during intraday trading on Thursday, September 24. Also, the naira remained stable, closing at N467/$1 at the parallel market on Thursday, September 24, 2020,
Naira stabilizes across forex markets, as BDCs get another round of dollar allocationRead More »
The Naira depreciated against the dollar at the Investors and Exporters (I&E) window on Wednesday. Forex turnover improved by 135% as Nigeria’s exchange rate at the NAFEX window depreciated after yesterday’s trading day gain to close at N386/$1 during intraday trading on Wednesday, September 23. Also, the naira depreciated closing at N467/$1 at the parallel market on Wednesday, September 23,
Exchange rate falls across forex markets despite improved dollar supplyRead More »
