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ON THE MONEY
On the Money are stories and analysis tracking the movement of smart money across the capital and money market.
MTN Nigeria Communications Plc proposed Commercial Paper Issuance Offer begins today and is scheduled to close on Thursday, June 4, 2020.
Naira has depreciated against the US dollar, as it dropped from N455/$1 to N460/$1 on Thursday afternoon.
Naira appreciated to N455 to a dollar on Wednesday, the first working day of the week after the 2-day sallah break.
Market sentiment, as measured by market breadth, was positive as 33 tickers gained, compared to 11 losers.
Rates in the parallel market will remain under pressure and we might see it above the N460 /$ levels it is currently trading at.
the Central Bank of Nigeria surprised the market by injecting estimated $90-$100million to the system.
Naira it dropped against the dollar today it was selling at N456 to S1 as individuals rush in to meet their fx payment obligations
The U.S. Dollar Index that tracks the American dollar against a basket of other major currencies dropped 0.10% to trade at 100.338
Tezos, which was designed as a "self-amending cryptographic ledger" and uses the so-called verification model, has emerged a big fan of tokenized real-estate and security tokens.
All-Share Index and Market Capitalization both depreciated by 0.72% to close the week at 23,871.33 and N12.441 trillion respectively.
The local currency strengthened by N0.58 against the dollar, compared to the N386.58 to a dollar that it traded on Thursday.
Trading at Nigeria’s bourse remained thin, as many local investors remained on the sidelines