Nigeria-China currency swap and economic growth - Part 2
It is demeaning that the Asians now control domestic commodity trading in Nigeria. They were able to hedge out Nigerian produce buyers. They buy produce like cocoa, coffee, groundnut, cotton, sorghum, gum Arabic, rubber, palm produce etc. It was easy for them to do that because they possess large capital. It is, therefore, mindboggling that…
Tokyo stocks open higher as yen remains cheaper
Tokyo stocks opened higher on Tuesday despite lingering worries about trade issues as the yen lost ground against the dollar, which tends to boost stocks.
Tokyo stocks close higher as yen weakens
Tokyo stocks closed higher on Wednesday helped by a cheaper yen, as market focus shifted from Donald Trump and Kim Jong Un's summit to US and European central bank meetings.
Speculative attacks fuel Naira depreciation
The announcement of a currency- swap deal between Nigeria and China has compelled speculators to make last minute plans to wreak havoc on the naira before the deal gets underway. The News Agency of Nigeria (NAN) reports that the Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, led the Nigerian delegation to…
Tokyo stocks end higher on Wall St gains, weaker yen
Tokyo stocks closed solidly higher on Wednesday, helped by gains on Wall Street and a weaker yen, as investors digested news from the US-Japan summit talks.
Tokyo stocks open lower as yen strengthens
Tokyo stocks opened lower on Thursday as the yen hit a four-month high after the US treasury secretary hailed a "weak dollar" at the World Economic Forum in Davos.
Tokyo stocks close lower on US-NorthKorea woes
Tokyo stocks closed ended lower on Tuesday as exporters were hit by a rush into the safe-haven yen with tensions between the United States and North Korea flaring up again.
Dollar extends yen gains in Asia as Fed, BoJ diverge
The dollar built on gains against the yen Thursday after the Federal Reserve unveiled plans to wind down its crisis-era stimulus and hinted at another interest rate hike before the end of the year.