Dollar hits one-year yen high but stocks split
European and Asian stock markets extended gains Tuesday, while the dollar hit a one-year high above 110 yen fueled by growing optimism about the global economic recovery.
Buhari never promised to make naira equal dollar in value - Presidency
The Nigerian Government Sunday debunked claims that President Muhammadu Buhari promised he would make the naira have an equal value with the dollar. The claim is often repeated by the critics of the Buhari government to drive home arguments about him not fulfilling his campaign promises. According to publications by The Cable and Vanguard, Buhari…
Dollar edges up as currency markets wait for Fed meeting
A cautious tone dominated currency markets on Tuesday, before the start of the U.S. Federal Reserve’s two-day monetary policy meeting.
Dollar drops, as bitcoin nears $50,000
Stock markets posted mixed results, the dollar retreated and oil steadied Tuesday, while bitcoin closed in on $50,000 for the first time as investors reacted to US stimulus and Covid vaccine developments.
The Naira tipped to recover against the Dollar in early 2021
The Naira has recently sunk to a four-year low against the US Dollar, as the country’s central bank has weakened the national currency for the third time in 2020. However, there are reports that it could rise again early in the next year.
Pound nears one-month dollar low on Brexit woes
Sterling sank close to a one-month low against the dollar low on Tuesday as investors fretted over heightened Brexit tensions before crunch trade talks between London and Brussels.
Oil prices rise 1% as mood on dollar sours
Oil prices gained on Tuesday, reversing overnight losses, as investors moved into risk assets and stayed away from the safe-haven U.S. dollar which hit multi-year lows.
Panic sale weighs on dollar as BDC window reopens
What appears like a gradual easing of the naira started at the weekend as the parallel market operators started dumping dollars ahead of the resumption of sale of foreign exchange (FX)
Foreign, local firms restrategise to cushion currency devaluation, others
In a situation that appears worse than that of 2016, multinationals and local firms that depend on foreign exchange for operations are reappraising their business continuity plans in Nigeria owing to “unfavourable regulations, currency devaluation and scarcity of the Greenback” for importation and backward integration. With lower incomes and rising unemployment aggravated by the COVID-19…