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Forex: Naira Gains At Investors’ Window

Forex: Naira Gains At Investors’ Window

Nigeria’s currency on Thursday appreciated at the investors and exporters’ window gaining N0.96k to close at N366.50k per US dollar from N367.46k/$ quoted the previous day, data from FMDQ revealed. Naira traded stable at the Central Bank of Nigeria (CBN) official rate closing at N305.55k per dollar, according to data obtained from FMDQ. However, the […]

CBN Forex Window Attracts $4bn In 3 Months

CBN Forex Window Attracts $4bn In 3 Months

The importers’ and exporters’ (I&E) foreign exchange (FX) window introduced about four months ago by the Central Bank of Nigeria (CBN) has attracted USD4 billion from foreign investors between April and now, the Bankers’ Committee disclosed Thursday. This is a $1.8 billion growth over the $2.2 billion recorded in June. The window also posted a […]

Bitcoin May Soon Hit Goldman Sachs’ N1.4m/$ Mark

Bitcoin May Soon Hit Goldman Sachs’ N1.4m/$ Mark

Despite the high volatile nature of bitcoin, it has over time proven that it is not going anywhere down any time soon. As at the time of writing this article, the price of one bitcoin to dollar was USD3411.45. When you convert that in naira, you have N1,246,032.1. If it continues this way, the world’s […]

Yaun Slumps After Making 4.5% Gain

Yaun Slumps After Making 4.5% Gain

The top-ranked yuan forecaster is betting the currency’s stunning advance has run its course for now. Skandinaviska Enskilda Banken AB has exited its long positions after making a 4.5 percent profit this year, according to Sean Yokota, the bank’s head of Asia strategy in Singapore and the most accurate forecaster for the yuan in the […]

Forex: Naira Rate Nears Black Market As CBN Loosens Up

Forex: Naira Rate Nears Black Market As CBN Loosens Up

Nigeria’s foreign-exchange market is starting to see the unification that bond and stock investors have been calling for. The naira weakened 13 percent against the dollar last week on the main interbank market after monetary officials told lenders to start quoting trades made in the so-called Nafex currency window that was opened for investors in April. The […]

Bitcoin Hits Fresh Record High, Breaks Through $3,500

Bitcoin Hits Fresh Record High, Breaks Through $3,500

Within the bitcoin community, a so-called “scaling debate” has been going on. There is a big backlog of transactions on the bitcoin blockchain — the technology that underpins the cryptocurrency. Bitcoin broke through the $3,500 mark for the first time on Tuesday hitting a fresh record high as uncertainty over the future of the cryptocurrency subsided. The […]

Is U.S. Dollar About To Hit An Inflection Point

Is U.S. Dollar About To Hit An Inflection Point

It seems that expectations for the U.S. government to get anything done are too low and for the euro are too high The U.S. dollar index has fallen by around 9 percent since the start of the year but that could be about to change, according to strategists at Wells Fargo, who suggest the stocks and sectors […]

Reserves Back To $31bn

Reserves Back To $31bn

The new reserves profile is coming on the heels of significant gains in the last two weeks The nation’s stock of foreign exchange reserves has recorded an upward swing to $31 billion, after declining to a near $30 billion mark two months ago due to market interventions, The development, which not only showed an understanding […]

Factors To Watch On African Markets – Aug. 7

Factors To Watch On African Markets – Aug. 7

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday. – – – – – GLOBAL MARKETS Asian stocks advanced on Monday, taking their cue from Wall Street, while the dollar moderated but retained most gains made on stronger-than-expected July jobs growth and the […]

Forex: Zambia’s Kwacha To Firm On Dollar Inflows, Kenyan Shilling Steady, Others

Forex: Zambia’s Kwacha To Firm On Dollar Inflows, Kenyan Shilling Steady, Others

The Zambian kwacha is expected to firm next week on increasing hard currency inflows, while the Kenyan shilling is likely to remain steady as the central bank intervenes to smooth out price volatility. Zambia The Zambian kwacha is likely to firm versus the dollar next week due to increasing hard currency supply ahead of an […]

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