The exchange rate between the naira and the US dollar for today (Friday, August 21st 2020), stands at ₦477/US$1 in the parallel market. The exchange rate had also closed at ₦477/US$1 on Thursday 20th August 2020. Naira: ₦477 Dollar: $1 Date: August 21st, 2020 The exchange rate between the naira and the British pound sterling […]
The Organization of the Petroleum Exporting Countries and its allies, OPEC+, said some members would have to reduce the group’s total production by an additional 2.31 million barrels per day in order to deal with its oversupply issues. This was disclosed through an internal OPEC+ report which was reported by Reuters. It is understood that
OPEC+ to slash production by extra 2.31 million barrels for members to limit oversupplyRead More »
The exchange rate between the naira and the US dollar for today (Thursday, August 20th 2020), stands at ₦478/US$1 in the parallel market. The exchange rate had closed at ₦480/US$1 on Wednesday 19th August 2020. Naira: ₦478 Dollar: $1 Date: August 20th, 2020 The exchange rate between the naira and the British pound sterling stands
Daily Parallel Market exchange rate – ₦478/$1; ₦608/₤1Read More »
Oil prices began to recover remarkably, but the naira does not seem to follow the path of recovery. Some reports say the banks are hoarding and round tripping, some say the banks aren’t receiving forex from CBN. It’s 2016 again. It’s another dollar crunch again. It’s another aftermath of an oil price crash. Nigeria, Africa’s
Now that oil is recovering, when will naira recover?Read More »
Nigerian banks are sending notices to customers about a reduction in the spending limits for their naira denominated debit cards used for paying for transactions abroad. Most of the messages relate to debit cards powered by Master Card. One of such notices reads: “Dear Customer effective 16 August 2020, your Naira Mastercard International will be reduced from
Banks reduce dollar spending limit on naira debit cards to $100Read More »
The exchange rate between the naira and the US dollar as of Tuesday, August 18th 2020, stands at ₦480/US$1 in the parallel market. The exchange rate had closed at ₦475/US$1 on Monday 17th August 2020. Naira: ₦480 Dollar: $1 Date: August 18th, 2020 The exchange rate between the Naira and the British pound sterling stands
Daily Parallel Market exchange rate – ₦480/$1, ₦610/₤1Read More »
Foreign investors tempted into buying Nigerian debt paying interest of 13% a year ago are unable to move their cash out of the country. Worse still, the rate that investors now earn for lending money to the government by purchasing 12-month Treasury bills has dropped to a 10-year low of 3.2%. On top of that,
Bond Buyers Stranded in Nigeria Face Prospect of 100% LossRead More »
Nigeria’s exchange rate at the NAFEX window depreciated closing at N386 during intraday trading on Friday, August 14, 2020. In another development, the exchange rate at the parallel market continued with its stability for a fifth consecutive trading day on Friday as it closed at N475/$1. Market Watch Parallel Market: At the black market where forex
Exchange rate falls at the NAFEX window on a depressed forex marketRead More »
The exchange rate between the naira and the US dollar as of Wednesday, August 12th 2020 closed at ₦475/US$1 in the parallel market. The exchange rate closed at ₦485/US$1 on Tuesday 11th August 2020. Naira: ₦475 Dollar: $1 Date: August 12th, 2020 The exchange rate between the naira and the British pound sterling closed at
