Wednesday,14th April 2021: The exchange rate between Naira and the US Dollar closed at N410.50/1$ in the Importers and Exporters window, where forex is traded officially. Naira appreciated against the US Dollar at the NAFEX window on Wednesday to close at N410.50/$1. This represents a 0.12% gain when compared to N411/$1 recorded on Tuesday, as the […]
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
The exchange rate between the naira and the US Dollar closed at N409.8/$1 at the I&E window as oil prices crashed to the $60 per barrel region. Tuesday, 23rd March 2021, the exchange rate between the naira and the US Dollar closed at N409.8/$1 at the Investors and Exporters window, where forex is traded officially.
Naira closes at N409.8/$1 at NAFEX as oil price crashes to $60Read More »
Crude oil prices drifted lower at the first trading session of the week in London. Oil traders are arbitrarily going short, on signs of more COVID-19 lockdowns in Europe. At the time of drafting this report, Brent crude futures were down 0.57% to trade at $64.16 a barrel, West Texas Intermediate futures lost about 0.54%
Oil prices dip further below $65pb following rising COVID-19 casesRead More »
Crude oil prices rallied higher at the first trading session of the week boosted by the growing hopes for fuel demand recovery in the second half of this year and curbs in oil production from major producers. Oil traders are currently excited, that the COVID-19 weekly death toll in the world’s largest economy has dropped
Oil prices rally high on improved energy demand outlookRead More »
Tuesday 16th February 2021: The exchange rate between the naira and the dollar depreciated slightly closing at N410/$1 at the NAFEX (I&E Window) where forex is traded officially. This is as the naira hit N423.15/$1 during trading day despite the global oil prices crossing the $64 mark. Naira closed against the US Dollar at N410/$1,
Crude oil prices were all fired up at the fourth trading session of the week, as it continued an almost week-long bullish run, passing 13-month highs. The arctic blast presently in play at Texas continues to distort oil production, with more than 20% of U.S. refining output and a million barrels of oil output closed
Oil prices sells above $65 per barrel, passing 13-month highRead More »
On February 5, 2021, the exchange rate between the naira and the dollar appreciated closing at N396.17/$1 at the NAFEX (I&E Window) where forex is traded officially. On the parallel market where forex is traded unofficially, the naira exchanged for the dollar at N480/$1 unchanged from the previous days trading. Trading turnover at the I&E window rose
Naira gains value at NAFEX window as Oil prices approach $60 markRead More »
Crude oil prices dipped due to oil traders being jittery over rising global cases of COVID-19, despite hopes of effective vaccines. Crude oil prices dropped at the first trading session of the week. The plunge is largely attributed to the continual rise in COVID-19 cases globally, as oil traders got jittery on the bias that
Oil prices fall, Oil traders edgy on rising COVID-19 casesRead More »
Crude oil prices dropped more than 5% and falling below the key $40 per barrel support, at the American trading session mid-week. The slide is attributed to unexpectedly large U.S. crude oil inventories for last week reported by the government, which reinforced concerns about depleting demand for fuel amidst the worsening global outbreak of Covid-19.
