The nation’s exchange reserves have been depleted by $469m in the past two week, the latest figures from the Central Bank of Nigeria have revealed. After hitting $29.819bn on May 18, 2015, the country’s forex reserves commenced a descent that dragged on for more than two weeks and stood at […]
Money Market
Ghana Cedi Falls to Record on Concern Floods to Swell Deficit
June 5, 2015/Bloomberg Ghana’s cedi weakened to a record to extend its fifth week of losses on speculation that flooding across the capital will further strain the government’s fiscal deficit. The currency of the world’s second-biggest cocoa producer dropped as much as 2.8 percent before paring the decline to 0.8 […]
CBN Adjusts Exchange Rate to N196.95 per Dollar
By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-From all indications, the Central Bank of Nigeria (CBN) has adjusted its exchange rate from N197 set in February to N196.95 to a dollar. This is coming on the heels of global falling oil prices and dwindling foreign reserves. At the close of today’s session, […]
