NSE boss encourages products’ issuers to broaden offerings

Nse Anthony-UkoDecember 6, 2018

Oscar Onyema, the chief executive officer of the Nigerian Stock Exchange (NSE) Wednesday encouraged exchange traded products (ETPs) issuers to expand their footprints by entering new markets and leveraging technology and data analysis. He also urged them to introduce other asset classes and broaden their distribution channels. Onyema who gave the opening remarks at the 2018 […]

CBN opens December foreign exchange market intervention with $210m

Nse Anthony-UkoDecember 5, 2018

Nigeria’s central Bank in its first foreign exchange market intervention for the month of December, on Tuesday, December 4, 2018 injected the sum of $210 million in the inter-bank foreign exchange market. Authorised dealers in the wholesale segment of the market, in Monday’s sales, received the sum of $100 million, while the Small and Medium […]

Money market stable amidst MPR retention, OMO mop up

November 27, 2018

Afolabi Oluwaseun In line with expectations of maintaining status quo on key policy rates, there were no kneejerk reactions in the money market as the monetary policy committee of the CBN completed its last meeting for the year. The committee elected to retain Monetary Policy Rate (MPR) at 14.0 percent and asymmetric window around the […]

Dollar up on solid US August jobs report; trade tensions lurk

Afolabi OluwaseunSeptember 10, 2018

Dollar

The U.S. dollar rose against a basket of other currencies on Friday, as U.S. job growth surged in August, but investor concerns about a possible escalation of the U.S.-Chinese trade conflict held gains in check. Nonfarm payrolls surged by 201,000 jobs last month, the U.S. Labor Department said on Friday. Average hourly earnings increased 0.4 […]

Dollar bulls take a break as greenback tumbles to two-week low

Businessam StaffJuly 26, 2018

Dollar

The United States dollar tumbled to a two-week low against a basket of major currencies late Wednesday after the US and the European Union agreed on steps to de-escalate trade tensions. The downside was complimented by disappointing new homes sales data from the United States, which encouraged sellers to attack. There is also a suspicion […]

Inter-bank market rates dip 0.02% on low trading activity

Adesola AfolabiJuly 24, 2018

Capital importation,Market Rates

The Nigerian Inter-bank currency market rate closed Tuesday at N305.90, representing a 0.02 percent depreciation against closing price at previous sessions as activity remained low with quotes ranging between N305.35/$ and N306.35/$ At the Investors and Exporters (I&E) foreign exchange window the dollar opened at N361.85, traded high at N363.00 and eventually closed at N361.68, […]

CBN flags off SMIS in Chinese Yuan

Businessam StaffJuly 20, 2018

Chinese Yuan

The Central Bank of Nigeria (CBN) Friday, July 20, 2018, flagged off its intervention in the sale of foreign exchange in Chinese Yuan, signaling the consummation of the bilateral currency swap agreement (BCSA) signed with the People’s Bank of China (PBoC) in April. According to a statement, the CBN disclosed that the sales would be […]