The Nigerian naira experienced a slight strengthening against the US dollar on Friday, as shown by gains in both the official and parallel foreign exchange markets. The Naira rose from N1,552 per dollar on Thursday to N1,545/$ in the parallel market.
Non-bank corporates have surpassed foreign portfolio investors (FPIs) for two consecutive weeks, indicating improved investor confidence and a 24 percent increase in foreign exchange inflows into the country for July 2025, according to data from FMDQ.
The Governor of the CBN, Yemi Cardoso, is slated to engage with foreign portfolio investors in a crucial meeting on Wednesday, Feb 28, 2024.
Nigeria's 2049 Eurobond Yields traded at a yield of 12.81% as prices fell to $72.94. The coupon rate for this loan about 9.2%.
Foreign investors stayed away from the Central Bank's latest OMO Auction which held on the 19th of March 2020.
Driven by fears of naira being weakened at the fallout in last week's plunge in oil price, foreign portfolios investors ramped up their exit from the fixed income market.
In Nigeria, one of the monsters that need to be faced head-on is the regime of high-interest rates and its effects on the growth of the country.
Nigeria’s external reserve has reduced by $3.22 billion from $45.07 billion as at end of June 2019 to $41.85 billion by the end of September 2019.
