Author: Marketforces Africa

JP Morgan published an article on 17th August 2023, in which it estimates that Nigeria’s net foreign exchange

Crude oil prices declined further on Tuesday over fears of a slowdown in China’s economic growth …

The Federal Government of Nigeria (FGN) bonds face pressures in the secondary market on Monday

The average yield on Nigerian Treasury bills (NTB) declined marginally to 8.4% at the beginning

The benchmark JSE/FTSE Top 40 index closed Monday’s trading session 0.98% higher

China’s central bank has cut a key interest rate amid concerns about the post-pandemic recovery

Somalia has banned TikTok, messaging app Telegram and online-betting website 1XBet to limit the spread of indecent

Nigeria’s Net FX Reserves Drop to $3.7bn in 2022 –JP Morgan JP Morgan, an American financial services firm, estimated that Nigeria’s net foreign exchange (FX) reserves dropped to $3.7 billion as of 2022. According to the firm’s latest report titled ‘Nigeria: Reform pause rather than fatigue’, the $3.7 billion figure is significantly lower than prior estimates, owing to larger-than-expected currency swaps and borrowing against existing reserves. “Based on partial information from the audited financial accounts, we estimate that CBN’s net FX reserves were around US$3.7bn at the end of last year, from US$14.0bn at end-2021,” the report said. The firm…

After closing negative in the just concluded week, the global crude oil prices were up as tight supply…

Ghana is gearing up to welcome the 12th edition of the African Peering and Interconnection Forum (AfPIF), marking the event’s second appearance