Amid rising COVID-19 caseloads and other militating factors, the greenback recently surged high. The U.S dollar surges past fresh two-month highs at the last trading day of the week. In addition to the impressive run, the safe-haven currency is set to finish this month with its biggest weekly increase since March as traders flock to […]
Brent crude (LCOc1) was up 0.41% to trade at $42.11 a barrel by 0706am GMT. Crude oil prices rallied higher on Friday at the opening of London’s trading session. The black liquid is on track for a weekly decline because of rising concerns about the global resurgence of COVID-19 infections and its effects on fuel
Oil prices propel above $40/barrel but bulls prospect remains weakRead More »
The Naira remained stable against the dollar to close at N467/$1 on Thursday. Forex turnover improved by 43% as Nigeria’s exchange rate at the NAFEX window stabilized to close at N386/$1 during intraday trading on Thursday, September 24. Also, the naira remained stable, closing at N467/$1 at the parallel market on Thursday, September 24, 2020,
Naira stabilizes across forex markets, as BDCs get another round of dollar allocationRead More »
In Thursday’s trading session, Crude oil prices fell. Crude oil prices dropped at Thursday’s trading session. This slide is attributed to recent poor E.U. economic data, and a lower-than-expected U.S. gasoline demand. Fears of a second wave of COVID-19 in emerged economies also weakened investors’ enthusiasm. What we know: Brent oil futures fell 0.57% to
Crude oil prices fall on fears of global energy demandRead More »
The Naira depreciated against the dollar at the Investors and Exporters (I&E) window on Wednesday. Forex turnover improved by 135% as Nigeria’s exchange rate at the NAFEX window depreciated after yesterday’s trading day gain to close at N386/$1 during intraday trading on Wednesday, September 23. Also, the naira depreciated closing at N467/$1 at the parallel market on Wednesday, September 23,
Exchange rate falls across forex markets despite improved dollar supplyRead More »
Gold futures was down 0.89% to trade at $1,890.60 an ounce on Wednesday’s trading session. Gold prices remained under intense pressure at the Wednesday trading session, as it went below $1,900/ounce. The slide is attributed to the rise of the U.S dollar, firing up on all cylinders on the macro that fresh COVID-19 lockdowns will
Gold prices bow to rising dollar, trades below $1,900/ounceRead More »
CBN has given up its policy of attracting ‘hot money’ as it selects an alternative way to fight inflation. The Central Bank of Nigeria (CBN) issued a monetary policy communique explaining why it cut its monetary policy rate from 12.5% to 11.5%, the first drop since May 2020 when it slashed MPR from 13.5% t0
The US dollar stands at ₦465/US$1 in the parallel market. The exchange rate between the naira and the US dollar for today (Tuesday, September 22nd 2020), stands at ₦465/US$1 in the parallel market. The rate had closed at ₦465/US$1 on Monday, September 21st 2020. Naira: ₦465 Dollar: $1 Date: September 22nd, 2020 The exchange rate
Daily Parallel Market exchange rate – ₦465/$1; ₦600/₤1; ₦546/€1Read More »
Oil benchmarks fell around 4% on Monday following rising concerns of increased coronavirus cases. Crude oil prices drifted lower at the later part of Asia’s trading session on Tuesday, as Tropical Storm Beta in the Gulf of Mexico weakened. What we know: Brent oil futures were down by 0.31% to $41.31 at the time this
Crude oil prices drop again after losing 4% on MondayRead More »
Over a hundred companies are being investigated by the CBN over forex policy abuse. Nigeria’s exchange rate at the NAFEX window continued to remain stable for the sixth consecutive trading day to still close at N386/$1 during intraday trading on Monday, September 21. Similarly, the naira remained stable closing at N465/$1 at the parallel market
Exchange rate stabilizes as CBN investigates over 100 companies for forex abuseRead More »
