Gold futures was down 0.89% to trade at $1,890.60 an ounce on Wednesday’s trading session. Gold prices remained under intense pressure at the Wednesday trading session, as it went below $1,900/ounce. The slide is attributed to the rise of the U.S dollar, firing up on all cylinders on the macro that fresh COVID-19 lockdowns will […]
CBN has given up its policy of attracting ‘hot money’ as it selects an alternative way to fight inflation. The Central Bank of Nigeria (CBN) issued a monetary policy communique explaining why it cut its monetary policy rate from 12.5% to 11.5%, the first drop since May 2020 when it slashed MPR from 13.5% t0
The US dollar stands at ₦465/US$1 in the parallel market. The exchange rate between the naira and the US dollar for today (Tuesday, September 22nd 2020), stands at ₦465/US$1 in the parallel market. The rate had closed at ₦465/US$1 on Monday, September 21st 2020. Naira: ₦465 Dollar: $1 Date: September 22nd, 2020 The exchange rate
Daily Parallel Market exchange rate – ₦465/$1; ₦600/₤1; ₦546/€1Read More »
Oil benchmarks fell around 4% on Monday following rising concerns of increased coronavirus cases. Crude oil prices drifted lower at the later part of Asia’s trading session on Tuesday, as Tropical Storm Beta in the Gulf of Mexico weakened. What we know: Brent oil futures were down by 0.31% to $41.31 at the time this
Crude oil prices drop again after losing 4% on MondayRead More »
Over a hundred companies are being investigated by the CBN over forex policy abuse. Nigeria’s exchange rate at the NAFEX window continued to remain stable for the sixth consecutive trading day to still close at N386/$1 during intraday trading on Monday, September 21. Similarly, the naira remained stable closing at N465/$1 at the parallel market
Exchange rate stabilizes as CBN investigates over 100 companies for forex abuseRead More »
The US dollar stands at ₦455/US$1 in the parallel market. The exchange rate between the naira and the US dollar for today (Monday, September 21st 2020), stands at ₦465/US$1 in the parallel market. The rate had also closed at ₦465/US$1 on Friday, September 18th 2020. Naira: ₦465 Dollar: $1 Date: September 21st, 2020 The exchange
Daily Parallel Market exchange rate – ₦465/$1; ₦603/₤1; ₦555/€1Read More »
The Fed’s message is that policy will remain accommodative, but there is no real appetite for adding to the easing. The U.S dollar was trading lower in the latter part of Asia’s trading session on Monday. The slump was triggered on growing concerns about whether the safe-haven currency had found its footing after five straight
U.S dollar drops, low U.S interest rates expected to persist for longRead More »
The Naira depreciated against the dollar to close at N465/$1 on Friday. Nigeria’s exchange rate at the NAFEX window remained stable for the fifth consecutive trading day to still close at N386/$1 during intraday trading on Thursday, September 18. Also, the naira depreciated closing at N465/$1 at the parallel market as BDC operators expect another
Naira falls at black market as dollar scarcity hits the forex marketRead More »
The US dollar stands at ₦465/US$1 in the parallel market. The exchange rate between the naira and the US dollar for today (Friday, September 18th 2020), closed at ₦465/US$1 in the parallel market. The rate had closed at ₦462/US$1 on Thursday, September 17th 2020. Naira: ₦465 Dollar: $1 Date: September 18th, 2020 The exchange rate between the
Daily Parallel Market exchange rate – ₦465/$1; ₦600/₤1; ₦548/€1Read More »
The Naira appreciated against the dollar to close at N462/$1 on Thursday. Nigeria’s exchange rate at the NAFEX window remained stable for the fourth consecutive trading day to still close at N386/$1 during intraday trading on Thursday, September 17. Also, the naira appreciated closing at N462/$1 at the parallel market as the Central Bank of
Naira gains at black market as CBN move against prominent businessmen for forex abuseRead More »
