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MARKET NEWS

Naira value falls to N480 against dollar on black market - BUSINESSDAY

NOVEMBER 20, 2020

… CBN amends third party FX purchase guideline

BY Hope Ashike

Nigeria’s currency weakened further in value on Thursday by N3, exchanging at N480 with the dollar compared to N477 traded on Wednesday on the black market. The continued pressure on the naira was attributed to speculative activities as individual are buying and storing the greenback. The foreign exchange market has been under pressure since March.

MARKET NEWS

March 18 Naira slips 1,385/$ amid Middle East tension - PUNCH March 18 Traders Rethink Fed Rates Outlook as Growth Worries Build - BLOOMBERG March 18 Naira holds gains as rising oil prices support FX market - BUSINESSDAY March 18 Moody's says a US recession is increasingly 'hard to avoid' amid Iran war - EURONEWS March 18 Naira gains at least N13 against dollar in official FX market - NIGERIAN TRIBUNE March 18 Naira rises to N1,403 in parallel market - VANGUARD March 18 Refineries spend N5.7tn on foreign oil despite naira-for-crude policy - PUNCH March 18 Nigerians seek pricing relief as naira-for-crude fails to stop petrol price hike - ICIR March 18 Naira holds steady at N1,400/$ in parallel market - PUNCH March 18 Naira Gains as Import Payments Ease, Reserves Cross $50bn - DAILY TIMES March 18 Naira opens week’s trading stronger at official FX market - NIGERIAN TRIBUNE March 18 How countries are cutting deals with Iran to move oil through Hormuz - INDEPENDENT March 18 Dollar bond seen bolstering or battering naira - BUSINESSDAY March 18 Naira strengthens to N1,355 per dollar - PUNCH March 16 Central banks meet as Mideast war fuels inflation fears - AFP March 16 Bitcoin in Iran Limbo as ‘Old Economy’ Assets Steal Limelight - BLOOMBERG March 16 Gulf Economies at Risk of Worst Slump Since ‘90s on Iran War - BLOOMBERG March 16 Britain's pound is March's surprise European currency outperformer, for now - REUTERS March 16 Oil prices mixed amid attacks on Gulf export facilities - RTE March 16 Gold Wavers as High Oil Prices Threaten Fed Rate Path - BLOOMBERG March 16 South African rand gains as softer dollar offsets reduced Fed cut hopes - REUTERS March 16 British expats who fled the Gulf desperate to avoid being hit with huge tax bills aft... (read more) March 16 Pound firms as markets brace for Fed and BoE rate decisions - YAHOO FINANCE March 16 Brits told 'buy your holiday Euros now' as Pound climbs to nine-month high - GLASGOW TIMES March 16 Gold falls as Iran conflict fuels inflation worries and dims Fed rate-cut prospects - REUTERS March 16 Mixed auction results weigh on fixed-income markets - PUNCH March 16 Naira holds firm as Middle East tensions shake global markets - Report - NIGERIAN TRIBUNE March 16 Parallel Market Premium Shrinks By 48% In 3 Years – Cardoso - LEARDERSHIP March 13 US Treasury Allows More Russian Oil Sales to Help Tame Prices - BLOOMBERG March 13 Oil prices teeter above 100 dollars as US temporarily loosens Russian sanctions - PA.MEDIA
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