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Eurozone Troubled As Italy Rejects Constitutional Changes

Eurozone Troubled As Italy Rejects Constitutional Changes

Italians resoundingly rejected constitutional changes aimed at streamlining lawmaking and boosting competitiveness, marking a sobering start to what could be a defining year ahead for the European Union. A widening split between the economics needed to sustain Europe’s common currency and the continent’s rising tide of populism was reinforced by Sunday’s referendum vote in Italy. National […]

Imports Rise 43% As Naira Devalues

Imports Rise 43% As Naira Devalues

“The rise in exports this quarter reduced the deficit trade balance,” the NBS said. The latest trade data released by the National Bureau of Statistics (NBS) shows that imports rose 43 percent year-on-year to N2.41 trillion from N1.68 trillion recorded in the same period of 2015, while quarterly comparison shows an increase by 6.2 percent […]

Agan! Naira Weakens Against Dollar

Agan! Naira Weakens Against Dollar

The naira is weakening further against the United States dollar amid a crackdown in the parallel market currency traders and the persistent scarcity of the greenback. Reuters reported that foreign exchange demand by small businesses was set to surge ahead of holiday season sales. The local currency fell 2.08 per cent week-on-week on Thursday to […]

Dollar Drops in Quiet Trading

Dollar Drops in Quiet Trading

The dollar fell 0.3% against the Mexican peso, 0.4% against the Indian rupee and 0.5% against the South Korean. The dollar fell broadly Friday as investors took profits on a powerful rally that has driven the U.S. currency to 14-year-highs this week. The WSJ Dollar Index, which measures the U.S. currency against 16 others, fell […]

Dollar, U.S. Bond Yields Drop As Oil Prices Slid On Doubts On Output Cut

Dollar, U.S. Bond Yields Drop As Oil Prices Slid On Doubts On Output Cut

After oil prices slid on fears that producer countries meeting this week could fail to agree an output cut, the dollar and U.S. bond yields fell on Monday as investors reversed a “Trumpflation” trade that has gripped markets since the U.S. elections. Brent crude futures last traded at $47.13 per barrel LCOc1, down slightly on […]

Dollar Drops After Giving In To Gravity

Dollar Drops After Giving In To Gravity

The Dollar Index had popped above 102.00 on Thursday, its highest since March 2003. The dollar gave in to gravity on Monday and pulled further away from near 14-year highs as U.S. Treasury yields eased from recent peaks. After rallying without pause for much of the month, the dollar index against a basket of major currencies […]

Naira Gains Over Dollar At Interbank Market

Naira Gains Over Dollar At Interbank Market

The News Agency of Nigeria (NAN) reports that Naira gained 50k to exchange at N305.00 to a dollar at the interbank market on Monday. The Nigerian currency had closed at N305.50 for most part of last week at the interbank market. However, naira remained stable at the parallel market, closing at N465 to a dollar, while Pound Sterling […]

What happened To Bitcoin? It was supposed to change the world.

What happened To Bitcoin? It was supposed to change the world.

A few years ago, Bitcoin advocates were touting its potential to transform the financial sector. “What would happen if you and I could just exchange money without it ever going through a bank,” venture capitalist and early Bitcoin supporter Marc Andreessen asked me in a 2014 interview Bitcoin could render banks obsolete much as the […]

Forex: Naira To Be Firmer In Parallel Market Over New Rules

Forex: Naira To Be Firmer In Parallel Market Over New Rules

After a decision to regulate rates and curb speculation, Nigeria’s naira is likely to strengthen in the parallel market next week while Zambia’s kwacha will come under pressure as dollar demand increases for importers ahead of Christmas. NIGERIA  The naira is seen trading firmer in the parallel market after security agencies arrested some black market […]

Naira Falls To All-time Low of N375 Per Dollar

Naira Falls To All-time Low of N375 Per Dollar

  This is the first time parallel market would be stable while interbank depreciates. Nigeria’s foreign exchange market may have taken a new turn as a rare movement in exchange rate happened between Monday and yesterday with massive swing in the value of Naira in the interbank official market against relative stability in the parallel […]

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