May 9, 2021
  • May 9, 2021

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More Nigerians keep foreign assets to safeguard against devaluation, inflation ~CBN report

by on April 22, 2021 0
Nigerians have been accumulating foreign currencies to protect their wealth from naira volatility and surging inflation, according to a research paper in a journal published by the Central Bank of Nigeria (CBN). “Higher real-exchange rate volatility is associated with an increased level of currency substitution,” central bank economists including Isaiah Ajibola, Sylvanus Udoette, Rabia... Read More

US Dollar Index shows signs of weakness

by on April 1, 2021 0
By James Huckle Despite the recent jump up in the US Dollar Index (+3.3% YTD), it remains range-bound and weak The break down in July of last year set the index on a broadly downward trajectory Volatility has begun to expand, decreasing stability, and increasing risk Signs of weakness The US Dollar index has... Read More

Nigeria’s forex reserves rise 1.85% to $36.3 bln by Jan 14 ~CBN

by on January 16, 2021 0
By Samuel Bankole   Nigeria’s foreign exchange reserves rose 1.85 percent year-to-date to $36.30 billion by January 14 from $35.64 billion as of January 4, the Central Bank of Nigeria (CBN) latest data showed.  The country’s foreign reserves closed last year down by 8.39 percent year-on-year to $35.35 billion against $38.59 billion it closed... Read More