The Naira remained stable against the dollar to close at N463/$1 on Tuesday. Forex turnover rose sharply by 122% as Nigeria’s exchange rate at the NAFEX window depreciated against the dollar to close at N386/$1 during intra-day trading on Tuesday, November 3. Also, the naira remained stable against the dollar, closing at N463/$1 at the […]
The Naira depreciated against the dollar to close at N463/$1 on Monday. Forex turnover dropped by 51.5% as Nigeria’s exchange rate at the NAFEX window appreciated against the dollar to close at N385.63/$1 during intra-day trading on Monday, November 2. Also, the naira depreciated against the dollar, closing at N463/$1 at the parallel market on
Naira is weakened at black market, dollar supply drop by 51.5%Read More »
The plunge in all prices is coming on worries of a swathe of COVID-19 lockdowns across emerged markets with softening fuel demand. Crude oil traders are under immense pressure as oil prices dropped more than 3% within a few hours ago. Brent crude plunged as much as 5.8% and the West Texas Intermediate lost as
At the black market where forex is traded unofficially, the Naira appreciated against the dollar to close at N462/$1 on Friday. Forex turnover rose significantly by 194.2% as Nigeria’s exchange rate at the NAFEX window depreciated against the dollar to close at N386/$1 during intra-day trading on Friday, October 30. Also, the naira appreciated against the dollar,
Naira appreciates at black market as forex liquidity is boosted with huge dollar supplyRead More »
Despite the intervention measures by the CBN, why does the disparity between the official and black-market rates remain high? The Nigerian economy has been faced with serious foreign exchange crisis since the first quarter of the year, with severe pressure on the nation’s foreign exchange market and external reserve. The local currency is under the
Why exchange rate disparity remains high despite CBN’s interventionRead More »
The U.S oil-based contract, the major indicator used for U.S. crude prices, sold at 35.79 per barrel. Crude oil traders are presently under immense pressure, as they log in their worst monthly loss since March. The plunge in oil prices is coming on fresh restrictions placed on human mobility around Western Europe, in order to
Oil prices suffer worst monthly decline since MarchRead 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.
At the black market, the Naira depreciated against the dollar to close at N465/$1 on Wednesday. Forex turnover drops by 47.5% as Nigeria’s exchange rate at the NAFEX window appreciated against the dollar to close at N385.67/$1 during intra-day trading on Wednesday, October 28. Also, the naira depreciated against the dollar, closing at N465/$1 at the
Naira falls at black market as dollar supply dropsRead More »
Growing concern that oil supply could fall by 3% continues as a result of increasing cases of COVID-19 in the US and Europe. There is a growing concern that oil supply will fall by 3%, escalating last week’s losses as a result of growing cases of COVID-19 in the United States and Europe. This has
Oil supply feared to drop by 3%, as new cases of COVID-19 infections increaseRead More »
At the black market where forex is traded unofficially, the Naira remained stable against the dollar to close at N463/$1 on Monday. Nigeria’s exchange rate at the NAFEX window continued to remain stable against the dollar to close at N386/$1 during intraday trading on Monday, October 26. Also, the naira maintained its stability against the dollar, closing
Exchange rate remains flat, currency traders resume operations after curfew is relaxedRead More »
