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 »
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 »
Nigeria’s exchange rate at the NAFEX window depreciated to N386.17 during intraday trading on Thursday, September 10, 2020. Also, the naira depreciated to N455/$1 at the parallel market, despite the sales of another tranche of over $50 million to over 5,000 BDC operators by the Central Bank of Nigeria. Parallel Market: At the black market where forex
Naira falls big across all forex market despite another $50 million allocation to BDCsRead More »
