Author: Marketforces Africa

12 Countries with FX Rates Unification Concerns Nigeria: In the last five years, Nigeria has devalued its official exchange rate by more than 92% and the currency war has not been won –yet or perhaps unlikely. Nigeria reintroduced foreign exchange rationing following the sharp fall in oil prices in 2015. According to Intentional Institute of Finance (IIF) in a report, the persistent opaque rules of foreign exchange allocation have created uncertainty for the private sector, encouraged smuggling, and enabled corruption. It said the still-large spread between the official and parallel market rates has created arbitrage opportunities for a small segment…

Yield on Nigerian government Bond advanced two basis points as pressure ease

The Nigerian local bourse opens the week positive as investors gain N9.6 billion

Presco Plc.’s ability to meet short term obligations appear to be facing pressure

Crude oil prices fall early on Monday as virus pressures mount in India after record number

Access Bank’s plan to buy majority stake in African Banking Corporation (BancABC)

Foreign exchange (FX) rates unification will halt arbitrage, smuggling…

After falling below $50K, Bitcoin dominance has been jerked down as …

This week, the Nigerian local currency, Naira, bucked negative trend appreciates

Average rates on Nigerian Treasury Bills crossed to 4.23% Friday as analysts…