The US dollar stands at ₦440/US$1 in the parallel market. The exchange rate between the naira and the US dollar for today (Thursday, September 3rd 2020), stands at ₦440/US$1 in the parallel market. The rate had also closed at ₦440/US$1 yesterday Wednesday, 2nd September 2020. Naira: ₦440 Dollar: $1 Date: September 3rd, 2020 The exchange […]
Nigeria’s central bank pumped in $50 million into the FX market on Monday in a bid to test demand and supply and more importantly, the price of naira against the dollar. According to Reuters, $50 million was sold to foreign investors on the spot and forward market in what it termed a “test trade to
U.S. West Texas Intermediate down 0.34% to trade at $41.34 a barrel by 8.09 GMT. Brent crude prices were also down by 0.41%, to $44.25 a barrel. Both Crude oil benchmarks dropped more than 2% with WTI sliding to its lowest. Crude oil prices dropped significantly on Thursday and fell below its multi-week lows on
Crude oil prices drop on falling US gasoline demandRead More »
The exchange rate between the naira and the US dollar for today (Wednesday, September 2nd 2020), stands at ₦440/US$1 in the parallel market. The rate had also closed at ₦440/US$1 yesterday Tuesday, 1st September 2020. Naira: ₦440 Dollar: $1 Date: September 2nd, 2020 The exchange rate between the naira and the British pound sterling stands
Daily Parallel Market exchange rate – ₦440/$1; ₦580/₤1; ₦525/€1Read More »
The Organization of the Petroleum Exporting Countries (OPEC) production increased by 1 million barrels a day in August. This comes as the oil cartel eases production cuts that saw oil production reaching a 30-year low as the pandemic affected global demand. This was disclosed in a Reuters survey. The report revealed that OPEC pumped 24.7
OPEC production up by about 1 million barrels per day in AugustRead More »
The Pipeline and Product Marketing Company made the disclosure through an internal memo. The pump price of premium motor spirit (PMS) otherwise known as petrol has been increased to N151.56 per litre with effect from September 2, 2020. This was disclosed in an internal memo and issued by the Pipeline and Product Marketing Company (PPMC),
Breaking: Petrol pump price increased to N151.56 per litreRead More »
The exchange rate between the naira and the US dollar for today (Tuesday, September 1st 2020), stands at ₦440/US$1 in the parallel market. The rate had also closed at ₦465/US$1 yesterday Monday, 31st August 2020. Naira: ₦440 Dollar: $1 Date: September 1st, 2020 The exchange rate between the naira and the British pound sterling stands
Daily Parallel Market exchange rate – ₦440/$1; ₦590/₤1; ₦542/€1Read More »
The telecommunications sector remains one of the fastest-growing sectors in Nigeria’s ailing economy. The impact of the restrictive measures on economic activities coupled with the downturn in the oil sector was apparent in the recent Q2 GDP data, as the nation’s GDP declined by 6.1%. However, there were a few brights spots, particularly the telecommunications
A look at the bright spot in the faltering economyRead More »
The Naira appreciated against the dollar to close at N465/$1 on Monday at the black market. Nigeria’s exchange rate at the NAFEX window appreciated remained stable at N385.67 during intraday trading on Monday, August 31, 2020. In sharp contrast, the exchange rate at the parallel market recorded a record gain on Monday as it closed
The exchange rate between the naira and the US dollar for today (Monday, August 31st 2020), stands at ₦465/US$1 in the parallel market. The rate had closed at ₦477/US$1 last week Friday, 28th August 2020. Naira: ₦465 Dollar: $1 Date: August 31st, 2020 The exchange rate between the naira and the British pound sterling stands
Daily Parallel Market exchange rate – ₦465/$1; ₦605/₤1; ₦545/€1Read More »
