Oil Fee Rises To $57 Per Barrel

Oil prices rose on Wednesday in spite of a upward shove in US crude inventories with the market heading for its biggest third quarter gain in 13 years after the Iraqi oil minister said OPEC and its companions were thinking about extending or deepening output cuts. Brent crude futures rose to 56.20 greenbacks a barrel by 12:19 p.m. EDT (1619 GMT), while U.S. West Texas Intermediate crude futures received ninety one cents, or 1.8 per cent, to 50.39 dollars. Crude costs have been on path for a Read more [...]

Nigeria Currency (Naira) Closes At 365 Per Pollar Despite CBN Interventions

The Naira closed at 365 per United States dollar at the parallel market on Wednesday, the same charge it closed on Tuesday. This used to be regardless of the Central Bank of Nigeria’s injection of $250m in the foreign alternate market on Tuesday. The Naira had traded flat at 365/dollar on Monday, having closed at 365/dollar on Friday. The Federal Government had declared Friday and Monday public holidays. The CBN injected $250m into the a number segments of the inter-bank overseas alternate Read more [...]

Nigeria Currency (Naira) Appreciates Against Dollar

The Naira on Tuesday favored against the greenback at the parallel market, the News Agency of Nigeria (NAN) reports. The Nigerian forex won N1 to alternate at N364 to the dollar, stronger than N365 posted on Friday, whilst the Pound Sterling and the Euro closed at N470 and N430. Trading at the Bureau De change (BDC) window noticed the Naira closing at N362 to the dollar, while the Pound Sterling and the Euro traded at N470 and N430. At the investors’ window, the Naira was bought at N360.39 Read more [...]

Nigeria Currency (Naira) Maintains N367 Per Dollar At Parallel Market

The Nigerian monetary unit on weekday remained stable at the parallel market, exchanging at N367 to a greenback, the press agency of Federal Republic of Nigeria reports. The Nigerian currency maintained its Friday rate, whereas the pound and also the monetary unit listed at N478 and N433 severally. Trading at the Bureau First State modification section saw the Nigerian monetary unit closing at N363 to the greenback, whereas the pound and also the monetary unit listed at N478 and N433, severally. The Read more [...]

Central Bank Of Nigeria (CBN) Intervenes With $364 Million Dollar

This is to notify the general public that Central Bank Of Nigeria (CBN) on Tuesday intervened in the interbank forex market to the tune of $364 million, in a bid to sustain liquidity in the market. A breakdown of the intervention indicated that the retail Secondary Market Intervention Sales (SMIS) received the largest allocation of $264,192,252.95. The CBN also offered the sum of $100,000,000 to authorized dealers in the wholesale window. The Central Bank Of Nigeria (CBN) sources said the Read more [...]

Naira Hits 370 At The Parallel Market, Depreciating Further Against Dollar

This is to notify the general public that the Nigeria Currency (Naira) depreciated to N370 per dollar in the parallel market, dropping N3 in just three days and on Tuesday failed to consolidate on its gains in recent weeks. According to Mr Isaac Okororafor who is the CBN Acting Director, Corporate Communications Department, CBN is intervening in the inter-bank foreign exchange market to the tune of $364million in a bid to sustain liquidity in the market while the Retail Secondary Market Intervention Read more [...]

Nigeria Currency (Naira) Seem To Dips Further Against Dollar

This is to notify the general public that the Nigeria Currency (Naira) seem to be depreciating against Dollar at the parallel market and the exchanging rate is at N367 to the dollar on Monday. Despite the Central Bank of Nigeria (CBN) intervening at the foreign exchange market to stabilize the naira, Traders still complain that the demand for foreign exchange outstripped its supply. According to reports, the Nigerian currency (Naira) lost one point from N366 posted on Friday, while the Pound Sterling Read more [...]

Forex Market Get Boosts With $195 By The Central Bank Of Nigeria (CBN)

This is to inform the general public that on Monday, the Central Bank of Nigeria (CBN) boosted the Foreign Exchange (FOREX) market by 195 million dollars intervention in three segments of the market. This statement was made in Abuja on that same Monday by the CBN the Acting Director, Corporate Communications Department, Mr Isaac Okorafor, who also said that in the wholesale segment of the inter-bank foreign exchange market, the bank auctioned 100m dollars and also intervened in the Small and Medium Read more [...]

Nigeria Currency (Naira) Gain, Closes At $363 Per Dollar

This is to inform the general public that the Nigeria Currency (Naira) reverses gain, closed at 365 Per United States Dollar at the parallel market on Sunday, and this made it to reverse the gain it recorded in the past week. Last Monday in the foreign market, the Nigeria Currency (Naira) was initially traded at 365/dollar which recorded slightly after the Central Bank of Nigeria sold $462m to players in the foreign exchange market, and the regulator specifically sold at the total sum of $462,336,426.74. NOTE: Read more [...]

Nigeria Currency (Naira) Gains Against Dollar

This is to inform the general public, most specially the traders and foreign exchange dealers that on Wednesday the Nigeria currency (Naira) appreciated marginally against the dollar at the parallel market and it gained 50k to exchange at N362.50, stronger than N363 posted on Tuesday, while the Pound Sterling and the Euro traded at N473 and N422 respectively. * The Naira was sold for N363 at the Bureau De Change window (BDC). * The Pound Sterling and the Euro traded at N472 and N423 respectively. * Read more [...]