February 15, 2016/Reuters Nigeria’s naira weakened to a record 345 to the dollar on the parallel market on Monday, increasing pressure on the government to devalue the official exchange rate to narrow the gap and spare Nigerians from huge bills for imported goods. The local currency eased 1.47 percent from […]
Tag: Traders
Oil prices stay steady before 2-day US Fed meeting
The price of U.S. benchmark oil rose slightly Tuesday, a day after briefly touching a nine-month high, as traders awaited the start of a Federal Reserve policy meeting. Benchmark oil for July delivery rose 5 cents to $97.82 per barrel at midday Bangkok time in electronic trading on the New […]
External reserves rise above 32-month high
Foreign exchange reserves climbed by 30 per cent to hit a more than 32 month high of $42.56bn by October 29, the latest figures from the Central Bank of Nigeria showed on Wednesday. Forex reserves in Nigeria stood at $32.72bn last year; the reserves rose by 3.4 per cent from […]