Sales of new single-family homes in the United States fell sharply in July to their lowest level in nine months, casting a shadow over the country’s housing recovery. Sales dropped 13.4 percent to an annual rate of 394,000 units, the Commerce Department said on Friday. While government housing data is […]
Author: InvestAdvocate
Brazil central bank launches $60 billion currency intervention
Brazil’s central bank announced a currency-intervention program on Thursday that will provide $60 billion (38 billion pounds) worth of cash and insurance to the foreign-exchange market by year-end, a move aimed at bolstering the country’s currency, the real, as it slips to near five-year lows against the dollar. The bank […]
External reserves drop to $46bn
Barely three weeks after climbing to the $47bn mark, the nation’s external reserves have dropped to the $46bn threshold again, according to the latest data on the Central Bank of Nigeria’s website. The foreign reserves had dropped by $1.8bn within the space of three months, from the peak of $48.85bn […]
