Currencies Could Spiral Lower – Nasdaq
By Kathy Lien, Managing Director of FX Strategy for BK Asset Management Investors have a lot to be worried about these days which explain why most of the major currencies…
Crude oil drops a further 3%, battered by no-production-cut blues – MarketWatch.com
Investors continued to unload oil on Wednesday, with losses building after Saudi Arabia dismissed the possibility of a production cut, effectively extending the time it will take for the market…
Devaluation (1) – Businessday
After four years absence at the back page of this prestigious publication, I am very delighted to be back as an Op-ed Columnist. Since my last piece here on the…
Nigeria, Saudi Arabia commit to oil market rebound – Businessday
Nigeria and Saudi Arabia have expressed commitment to work towards a “stable oil market” and a “rebound of the oil price.” The decision was reached at a bilateral meeting between…
Sterling slumps below $1.39 on Brexit fears – FT
Concerns over Britain’s place within the EU continued to weigh on sterling, dragging the pound further below $1.39 for the first time since 2009, a level rarely seen and associated…
Market Panic – aboki says
WHY THE PANIC WHEN THESE FACTORS PERSIST Naira has not gained The price correction seen in the market in the last three days is not because the naira has appreciated.…
Parallel naira soars after Nigeria rules out devaluation – Reuters
LAGOS Feb 24 (Reuters) – Nigeria’s naira firmed sharply on the parallel market on Wednesday as retail traders, having anticipated a cut in its official rate and stocked up on…
Naira appreciates further to N305/$ – Vanguard
By Babajide Komolafe The naira continued its appreciation against the dollar in the parallel market Wednesday, as the parallel market exchange rate dropped further to N305 per dollar. Thus the…
IMF calls on Nigeria to lift foreign exchange curbs – Reuters
Feb 24 The International Monetary Fund (IMF) called on Wednesday for Nigeria to lift foreign exchange curbs and let the naira reflect “market forces” more closely, also urging more fiscal…
Falana asks court to bar dollar as legal tender – Punch
Ade Adesomoju, Abuja Human rights lawyer, Mr. Femi Falana (SAN), filed a suit before the Federal High Court in Abuja on Wednesday, praying for an order restraining the Central Bank…