Naira gains at parallel market. Nigeria’s External reserve closes at $34.65 billion as of 25/03/21; Oil trades at $64.57pb as of 28/03/21; Bitcoin trades above $55k

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Friday, 26th March 2021, the naira appreciated marginally at the parallel market, as it closed at N485/$1, representing a N1 gain when compared with the N486/$1 that was recorded in the previous trading day. However, the exchange rate between the naira and the US Dollar closed at N410/$1 at the Investors and Exporters window. Naira […]

Nigeria: Pressure on FX to continue in 2021 – Report

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Pressure on FX will continue in 2021 as a result of thin reserve buffers and recovering domestic demands. EFG Hermes has revealed that pressure on FX will continue in 2021 as a result of thin reserve buffers and recovering domestic demands. The company envisages that adjustment in the country’s current setting is driven primarily by

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Naira gains at NAFEX window following CBN’s intervention in the forex market

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The Naira appreciated against the dollar at the Investors and Exporters (I&E) window on Tuesday, closing at N393.83/$1. On January 5, 2020, the exchange rate between the naira and dollar closed at N393.83/$1, the second trading day of 2021 at the Investors and Exporters’ (NAFEX) window where forex is traded officially. This is an appreciation from the N394.30 recorded on

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Just Now: Oil prices decline below $50 per barrel

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Brent crude plunged by over 4.75% to trade at $49.85 a barrel after rising 1.5% to its highest since March on Friday. Oil prices dropped over 4% at Monday’s trading session amid reports that reveal the fast-spreading new COVID-19 strain has shut down much of the United Kingdom. This has further led to tighter restrictions

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Naira gains some value in forex markets as CBN intervenes with record dollar supply

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The Naira appreciated marginally against the dollar, closing at N475/$1 at the parallel market. Forex turnover rose significantly by 180.6% on a record dollar supply, as the Naira’s exchange rate at the NAFEX window appreciated against the dollar to close at N394.00/$1 during intra-day trading on Thursday, December 10. Also, the Naira appreciated marginally against the

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Top 5 Fund Managers in Nigeria by asset value

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Nigeria’s mutual fund managers are always “fighting” for positions by growing their assets month over month. The dynamics of Nigeria’s mutual funds industry keeps changing. Changes are being noticed in the size of the total asset value, as well as in the number of funds and fund managers. Another area that has witnessed some significant

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