Before last week’s FOMC meeting Financial markets across the globe, particularly the emerging market counterparts were thrown off-balance between June and mid-September after the U.S Fed signalled in its FOMC meeting that it will scale back on the US$85 billion monthly bond purchases contingent upon positive economic data. Following the […]
Tag: Bloomberg
Naira Hits Year Low as Market Waits on Central Bank: Lagos Mover
Nigeria’s naira retreated for a third day, set for its lowest closing level in more than a year, in the absence of central bank intervention and foreign-exchange sales from oil companies. The currency of Africa’s biggest crude producer declined 0.7 percent to 163.35 per dollar as of 2:24 p.m. in […]
External reserves rise to $47bn
The nation’s external reserves are on the rise again. It has hit $47.1bn, according to the latest report from the Central Bank of Nigeria. Last week, the foreign reserves dropped by $1.8bn from the peak of $48.85bn on May 2 to $46.98bn on August 5. The external reserves, however, rose […]
