West Texas Intermediate (WTI), crude futures plunged by over 3% to trade below $60 a barrel. Oil prices lost more than 3% at the second trading session of the week on concerns that new COVID-19 lockdown and slow vaccine rollouts in Europe will slow energy demand arbitrarily. At the time of writing this report, West […]
Monday, 22nd March 2021: The exchange rate between the naira and the US Dollar closed at N410.13/$1 at the Investors and Exporters window. Naira depreciated further against the US Dollar on Monday, 22nd March 2021, to close at N410.13/$1. This represents a 0.03% decline compared to N410/$1 recorded on Friday. Also, at the parallel market,
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 »
Friday, 19th March 2021: The exchange rate between the naira and the US Dollar closed at N410/$1 at the Investors and Exporters window, where forex is traded officially. The Naira depreciated marginally against the US Dollar on Friday, 19th March 2021, to close at N410/$1. This represents a 0.08% decline when compared with the N409.67/$1
Naira falls to N410/$1 at NAFEX window, following increased dollar scarcityRead More »
The Central Bank of Nigeria intervened in the foreign exchange market with sales of FOREX to dealers valued at $5.62 billion in the fourth quarter of 2020. This was disclosed in the Q4 2020 economic report published by the Apex bank. In the period under review, FOREX sales increased by 28.7% compared to $4.37 billion
CBN intervenes in FOREX market with $5.62 billion in Q4 2020, up by 28.7%Read More »
Thursday 18th March 2021: The exchange rate between the naira and the US Dollar closed at N409.67 to a dollar at the Investors and Exporters window. The Naira appreciated marginally against the US Dollar on Thursday, 18th March, to close at N409.67/$1. This represents a 0.02% gain when compared with the N409.75/$1 that was recorded on
Tuesday 16th March 2021: The exchange rate between the naira and the US Dollar closed at N409.75 to a dollar at the Investors and Exporters window. The Naira depreciated against the US Dollar on Tuesday to close at N409.75/$1, representing a 0.21% drop when compared to N408.90/$1 recorded on Monday, 15th March 2021 as liquidity crisis
Naira declines to N409.75/$ at NAFEX window as FX liquidity crisis persistsRead More »
Monday 15th March 2021: The exchange rate between the Naira and the US Dollar closed at N408.90 to a dollar at the Investors and Exporters window. The Naira appreciated against the US Dollar on Monday to close at N408.90/$1, representing a 0.27% gain when compared to N410/$1 recorded on Friday, 12th March 2021 despite drop in
Naira rises to N408.90/$ at NAFEX despite reduced dollar supplyRead 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 »
You can no longer transfer forex online without documentation and subsequent approval of the bank. Commercial Banks in Nigeria are informing customers that they can no longer make instant online transfers out of their domiciliary accounts without proper documentation. Before now, all a customer had to do was log into their banking application on their
Nigerian Banks to stop “instant completion” for forex transfers online from March 20thRead More »
