May 5, 2021/IMFBlog By Serkan Arslanalp and Chima Simpson-Bell The share of US dollar reserves held by central banks fell to 59 percent—its lowest level in 25 years—during the fourth quarter of 2020, according to the IMF’s Currency Composition of Official Foreign Exchange Reserves (COFER) survey. Some analysts say this […]
OPINION/EDITORIAL
Oil Prices Hit 7-Week High On Demand Optimism
May 4, 2021/OilPrice.com Chart of the Week – Air travel is on the rise in the U.S., indicating an uptick in jet fuel demand. – Jet fuel demand has averaged 1.2 mb/d over the past four weeks, up 200,000 bpd from March levels. – In March, 1.2 million passengers passed […]
Nigerian Naira Remains Fair Stable, But Downside Risk Abounds
May 4, 2021/Proshare by CSL Research Naira has remained stable over the past few weeks supported by the gains from higher crude prices (+3.40%MtD to US$68.32 bbl. as of the end of April). The impact of the higher crude prices can also be seen in the external reserves (+0.34%MtD to […]
