Forex turnover rose by 35% as Nigeria’s exchange rate at the NAFEX window appreciated against the dollar to close at N385.80/$1 during intraday trading on Friday, October 2 after the public holiday. Also, the naira remained stable against the dollar, closing at N465/$1 at the parallel market on Friday, October 2, 2020, as the pressure […]
The US dollar index was up 0.23% to trade at 93.977 earlier on Friday. Price swings in the global financial markets are triggering a bounce in the U.S dollar showcasing the currency’s safe-haven status amid worries over economic growth recovery and political imbalance at the world’s biggest economy. The U.S dollar was nearly 2% in
Brent crude was down 48 cents, or 1.17%, after falling more than 3% on Thursday. Oil prices continued their decline for the second day in a row, as rising crude oil production from OPEC comes amid a worsening COVID-19 pandemic which threatens to bring more restrictions on movement and consumption, and will likely hit demand
Oil price drop continues over increased OPEC supplies and decline in demandRead More »
The Naira depreciated against the dollar at the Investors and Exporters (I&E) window on Wednesday. Forex turnover dropped by 37% as Nigeria’s exchange rate at the NAFEX window depreciated against the dollar to close at N386/$1 during intraday trading on Wednesday, September 30. In contrast, the naira appreciated against the dollar, closing at N465/$1 at the parallel market
Exchange rate weakens at NAFEX window as dollar supply continues its declineRead More »
Stuck at $40, static oil prices mean exchange rate crisis could remain till next year. Nigeria’s current account deficit and the exchange rate could remain under pressure longer than expected due to analyst outlook of the price of crude oil. Crude oil prices have been stuck at $40 per barrel and could remain at these levels for the next
Nigeria faces prolonged exchange rate crisis as oil prices remain stuck at $40Read More »
Oil futures fell precipitously on Wednesday amid mounting fears of oil demand recovery. Crude oil prices dropped lower at Asia’s trading session on Wednesday. The price plunge in the hydrocarbon commodity is attributed to oversupply fears, as U.S. refineries are beginning to shed labor force. Brent oil futures dropped 1.17% to $40.55 by 4.57 GMT
The Naira depreciated against the dollar to close at N470/$1 on Tuesday. Nigeria’s exchange rate at the NAFEX window appreciated against the dollar to close at N385.75/$1 during intraday trading on Tuesday, September 29. In contrast, the naira depreciated against the dollar, closing at N470/$1 at the parallel market on Tuesday, September 29, 2020, as
Exchange rate is back to N470/$1 as external reserve continues its declineRead More »
Forex liquidity improves by 57% as Nigeria’s exchange rate at the NAFEX window remained stable to close at N386/$1 during intraday trading on Monday, September 28. Also, the naira remained stable for the third consecutive day, closing at N467/$1 at the parallel market on Monday, September 28, 2020. Parallel market: At the black market where forex is
Naira maintains stability at forex markets as dollar supply rise by 57%Read More »
Oil traders are concerned about the blurred demand outlook in the short term. Oil prices dragged lower at Monday’s trading session in Asia. Traders are deeply worried over rising COVID-19 cases upsetting hopes for a smooth recovery in energy demand, with both main oil benchmarks on track for their first monthly declines in multiple months
The Naira remained stable against the dollar at the Investors and Exporters (I&E) window on Friday. Nigeria’s exchange rate at the NAFEX window remained stable to close at N386/$1 during intraday trading on Friday, September 25. Also, the naira remained stable for second consecutive day, closing at N467/$1 at the parallel market on Friday, September 25, 2020, as
