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FOREX
As global risk aversion eases, foreign investors’ interest in risky assets in emerging economies should improve.
The CBN has announced an increase in the amount of foreign exchange allocated to banks to meet the requests of customers.
The naira hit a record low, as it depreciated against the US dollar on Friday at the parallel market to close at N502 to a dollar.
The naira depreciated against the US dollar on Friday at the official NAFEX window to close at N412 to a dollar.
Foreign exchange speculators are set to lose over N100 billion in the next one month as the CBN sustains massive funding for BDC operators.
Naira depreciated against the US dollar on Tuesday to close at N411.63 to a dollar compared to N411.5/$1 recorded on Monday, 17th May 2021.
The naira remained stable at the parallel market to close at N485/$1 on Monday.
Naira depreciated against the US Dollar at the NAFEX window on Tuesday to close at N411/$1.
The opening indicative rate closed at N410.88 to a dollar on Monday.
The naira appreciated against the US Dollar on Wednesday, 31st March 2021, at the NAFEX window to close at N408.67 to a dollar.
The naira appreciated marginally at the parallel market, as it closed at N485/$1.
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