Tag
DOLLAR
The U.S dollar dropped amid worries about the second wave of COVID-19 caseloads in the emerged markets.
At the black market where forex is traded unofficially, the Naira remained stable against the dollar to close at N460/$1 on Tuesday.
The US dollar is weaker as traders placed a very dovish spin of the Fed shift to inflation targeting.
The exchange rate at the parallel market was unchanged for the third consecutive day.
The U.S. Dollar Index dropped by 0.02% to trade at 95.090 at the time of this report.
The exchange rate disparity between NAFEX rate and back market rate widened by a whopping N84.
Gold still targets $1,831, as it has broken a resistance at $1,796 per ounce.
The U.S. Dollar Index gained 0.19% to 96.858 by 5.56 am local time on Friday.
The opening indicative rate was N387.32 to a dollar on Wednesday.
Member of the Financial Services Committee asked to know what digital dollars had to do with financial inclusion.
Forex shortages have persisted since the crash in oil prices coincided with the global lockdown.
The American Dollar Index tracks the dollar’s strength relatively against a bouquet of other major currencies.