- Wall Street, FTSE 100 Surge as AI Shares Gain Momentum
- Nigeria’s US Dollar Bonds Dumped as 10-Year Yield Surges to 8%
- Nigerian Banking System Excess Liquidity Climbs to N7.31trn
- Oil Dips as US-Iran Negotiations Progress, Brent Falls to $110
- CBN Intervenes in FX Market, Injects $500m to Ease Supply Stress
- Bitcoin Falls Below $80k Ahead of Federal Reserve Rate Decision
- Naira Losses Deepen, Exchange Rate Weakens to N1,367/$US
- Equities Investors Gain N2.6trn as Dangote Cement, FirstHoldco Rally
MarketNews
Ahead of the Federal Reserve’s rate decision, foreign portfolio investors and asset managers dumped Nigerian US dollar
In March, naira (NGN) rates worsened against the US dollar (USD) across the foreign exchange markets despite significant FX interventions in the official and parallel markets. The naira lost 3%, though the Central Bank of Nigeria (CBN) pumped more than $1 billion official window to oil the forex market inflows.
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