Naira Drops to N1690.37/$ as Dollar Supply Declines
The naira weakened by 2.31 per cent or N38.12 on Monday at the National Autonomous Foreign Exchange Market to N1690.37/$ compared to 1652.25/$ that it had closed the previous week at.
According to FMDQ data on Monday, the...
Foreign inflow on NGX Drops to N11bn – Report
Foreign inflow into the Nigerian Exchange Limited declined to the lowest point of the year at N11.26bn in September.
This is according to the latest Domestic & Foreign Portfolio Investment Report of the NGX.
The report indicated that...
Nigeria's Foreign Debt Service Gulps $3.5bn in 2024 - Report
The Federal Government spent $3.58 billion servicing its foreign debt in the first nine months of 2024, representing a 39.77 per cent increase from the $2.56bn spent during the same period in 2023.
This is according...
Foreign Exchange Policy, Interest Rate Increase Foreign Portfolio Investment by 170%
The Central Bank of Nigeria (CBN) high interest rate regime and foreign exchange policy have whetted the appetite of Foreign Portfolio Investors, FPIs, as inflows amounting to N696.88 billion came into the stock market...
Nigeria’s Oil Export Earnings Decline to $12.1bn
Nigeria’s crude oil export earnings slumped to $12.1 billion in Q2, 2024 as against $12.4 billion in the preceding Q1, reflecting the decline in domestic crude oil production to 1.27 million barrels per day in Q2, 2024 from...
Report Reveals Naira May Weaken to N1,993/$1
The naira is forecasted to depreciate to N1,993 against the United States dollar by 2028, posing a significant challenge to Nigeria’s pharmaceutical industry, particularly in importing essential medical devices, a new report by BMI, a Fitch Solutions subsidiary,...
