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Spanish Banks To Pay Customers $4.2 billion After European Court’s Loan Ruling

After Europe’s top court unexpectedly overturned a Spanish ruling that capped liabilities relating to a disputed mortgage clause, Spanish banks have been asked to repay customers more than 4 billion euros ($4.2 billion). This however, poses new challenge to some lenders. Banks will have to compensate customers for what they lost even before May 2013, when […]

Japan Now Largest Holder Of U.S. Treasuries Over China

Japan Now Largest Holder Of U.S. Treasuries Over China

Japan overtook China as America’s top foreign creditor, as its holdings edged down at a slower pace. China’s holdings of U.S. Treasuries declined to the lowest in more than six years as the world’s second-largest economy uses its currency reserves to support the yuan.  A monthly Treasury Department report showed China held $1.12 trillion in […]

Nigeria’s $29.9bn Loan From China Threatened Due To Relationship With Taiwan

Nigeria’s $29.9bn Loan From China Threatened Due To Relationship With Taiwan

China is upset by the Federal Government’s diplomatic recognition of Taiwan as a sovereign nation. China may withhold part of the $29.9bn loans on which Nigeria partly pins its hope of financing next year budget should Nigeria continue to recognize Taiwan as a sovereign nation.  The “cold war” over Taiwan may also affect the implementation of the […]

Naira To Dollar Exchange Rate Today – Official/Black Market Rate

Naira To Dollar Exchange Rate Today – Official/Black Market Rate

Naira Exchange Rates – Black Market Lagos/Abuja/Kano Parallel Market.  NGN (Naira)     US DOLLAR     EURO           GBP                 Cameroon CFA Benin CFA         GHS Buying/Selling RATE RATE RATE RATE RATE RATE Today 490 / 497 510 / 517 588 / 595 […]

Sterling Falls To $1.25, Eyes On BoE, sales

Sterling fell almost half a percent in morning trade in Europe on Thursday, suffering along with a raft of other currencies against the dollar after the U.S. Federal Reserve raised its forecasts for interest rates next year. The pound has been threatening to break past resistance around $1.27-$1.28 all week but in early deals in […]

Naira Closes 485 Wednesday Following Dollar Scarcity

Naira Closes 485 Wednesday Following Dollar Scarcity

The naira has been under persistent pressure both at the official and parallel foreign exchange markets owing to the acute shortage of the United States currency The naira closed flat at 485 against the United States dollar at the parallel market on Wednesday, three trading days after the local currency fell against the greenback to […]

Currencies To Watch Out For In 2017

Currencies To Watch Out For In 2017

The pound, krone and rand are the currencies to watch heading into 2017 as technical charts and supportive cross-asset themes signal their recent momentum may continue. Emerging-market equities and oil prices may have bottomed, helping the Norwegian and South African currencies, while the pound has room to claw back sharp losses following the Brexit vote. […]

U.S. Dollar Falls Against Oil-Linked Currencies

U.S. Dollar Falls Against Oil-Linked Currencies

Higher oil prices are beneficial for oil-producing nations and their currencies. The dollar fell Monday as a rally in crude oil prices depressed the greenback against the currencies of commodity producers. The WSJ Dollar Index, which measures the U.S. currency against 16 others, was recently down 0.6% to 91.32. The dollar fell 2.4% against the […]

Euro Slids 20-Month Low For Renzi’s Referendum Defeat

Euro Slids 20-Month Low For Renzi’s Referendum Defeat

The euro slid 1 percent to $1.0560 as of 1:42 a.m. Rome time. It earlier fell 1.5 percent to $1.0506, the lowest since March 16, 2015. The euro fell to the lowest level since March 2015 as Italian Prime Minister Matteo Renzi said he will resign after conceding defeat in the nation’s constitutional referendum. The […]

Interbank Rates To Stabilise On CBN Daily $1.5m Forex Sales To Banks

Interbank Rates To Stabilise On CBN Daily $1.5m Forex Sales To Banks

As the Central Bank of Nigeria (CBN) continues its daily $1.5 million foreign exchange sales to banks, relative stability of the naira witnessed at the interbank spot market last week is expected to continue in the week. Foreign exchange sales to banks were crossed at a fixed rate of N304.5/$ from Monday to Friday while […]

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