Tag: Dollar
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Naira loses against dollar at the parallel market
Barely 24 hours the Central Bank of Nigeria (CBN) resumed dollar sales at the Bureau De Change (BDC) sector, the Naira have reversed the gain made against the dollar. The Naira traded at N441 to the dollar on Tuesday, losing N6 from N435 recorded on Monday at the parallel market in Lagos. The Pound Sterling…
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Naira strengthens against dollar
The Naira on Thursday gained one point to appreciate against the dollar at the parallel market in Lagos. The News Agency of Nigeria, (NAN) reports that the Naira exchanged at N439 to a dollar at the parallel market in Lagos, while Pound Sterling and the Euro closed at N580 and N495 respectively. Investors at the…
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Dollar buoyed by yields surge jump after Fed’s inflation shift
The dollar held gains against major currencies, on Friday, after the Federal Reserve’s aggressive new strategy to lift employment and increased tolerance for higher inflation pushed U.S. bond yields up. The dollar’s index rose against six major currencies and was last trading at 93.061, turning around a sharp decline seen on Thursday. Speaking at the…
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Dollar drifts ahead of key Fed speech as economic worries grow
The dollar held steady against most currencies on Wednesday as traders braced for U.S. data expected to show a slowdown in durable goods orders and a key speech by Federal Reserve Chairman, Jerome Powell. The yuan rose toward a seven-month high after U.S. and Chinese trade officials reaffirmed their commitment to a Phase 1 trade…
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Naira strengthens against dollar
Barely 24 hours the Naira was forced to a downward trajectory by dollar scarcity, it bounced back, closing at N477 to a dollar at the parallel market in Lagos. The News Agency of Nigeria (NAN) reports that the Pound Sterling and the Euro traded at N608 and N550, respectively. The Naira, however, weakened marginally at…
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Dollars scarcity worsens, forces Naira down
The scarcity of dollars at the parallel market on Tuesday in Lagos forced the Naira down to N480 to a dollar. The News Agency of Nigeria (NAN) reports that the Pound Sterling and the Euro exchanged at N610 and N550, respectively. Trading at the investors’ window saw the naira closing at N385.98 to a dollar…
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Dollar holds firm as U.S. bond yields jump
The dollar inched ahead on Wednesday, as a jump in U.S. yields pushed it higher against the Japanese yen, while the kiwi briefly hit a one-month low after the central bank extended its bond-buying programme. The yield on 10-year U.S. debt, which rises when bond prices fall, made its steepest gain in two months on…
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Naira strengthens marginally to dollar at I&E window
The Naira on Monday gained marginally to the dollar at the Investors and Exporters (I &E) window closing at N389.25 to a dollar as against N389.50 posted on Friday. Trading at the window picked on Monday as investors traded a total of 46.67 million dollars as against 12.61 million dollars traded on Friday. According to…
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Naira exchanges at N472 to dollar at parallel market
The Naira on Tuesday exchanged at N472 to a dollar at the parallel market in Lagos, the News Agency of Nigeria (NAN) reports. The Pound Sterling and the Euro also exchanged for N575 and N530 respectively. The Naira, however, traded at N388.17 to a dollar at the investor’s window. The market turnover at the window…
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Dollar falls as yuan leads charge in risk-on trades
The dollar fell against most currencies on Thursday as a rally in riskier assets such as global equities and commodities put a dent in safe-haven demand for the U.S. currency. China’s yuan rose to a four-month high against the greenback, extending recent gains as investors of all stripes increase positions in Chinese stocks due to…