The nation’s foreign exchange reserves has dropped to $32.43bn, as the Central Bank of Nigeria continued its efforts to prop up the naira, according to data obtained from the bank’s website on Thursday. The current stock of external reserves indicate a drop of about six per cent from $34.47bn of […]
Capital Market
Naira Closes at 199/$1 at Interbank
By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-The naira on Thursday closed at 199/$1 according to the Central Bank of Nigeria (CBN). The local currency appreciated by 24 basis points against the dollar to trade at N198.52/$. The CBN had on Wednesday announced the scrapping of its biweekly currency auctions and said […]
Market Rally Falling as Investors Seek Profits; Ditching Blue Chips
By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-The present market rally is evidently diminishing as investors seek profits amidst rising prices whilst ditching blue chip stocks, a Cordros market update affirmed. At the end of the day’s session, the Nigerian Stock Exchange (NSE) all-share index (ASI) climbed up 0.36 percent to close […]