- South African Rand Steadies as Investors Digest Fed Rates Decision
- Nigeria’s 20-Year US Dollar Bond Yield Falls to 8.50%
- UK, Nigeria Seek Investment in Small Hydropower Projects
- Fidelity Bank Redeems $400 Million Eurobond at Maturity
- Oil Prices Ease on Hope of Fresh US-Iran Talks, Brent Dips to $110
- Excess Liquidity in Banking System Eases to N8.6trn, Rates Diverge
- Naira Sustains Rally as Interbank FX Turnover, Deal Counts Dip
- FG Pays N1.2trn Power Debt, Targets 19,000MW Transmission Capacity
News
The South African rand traded steady on Thursday as global investors began digesting the US Federal Reserve’s decision to hold the fed funds rate unchanged at its committee meeting.
Yields on Nigeria’s sovereign US dollar bonds slipped across the short, belly, and long ends of the curve as foreign portfolio investors and asset managers returned to international markets and piled into oil-linked issuers.
The United Kingdom (UK), the Federal Government of Nigeria, and participating state governments are seeking more private-sector
Fitch Ratings has affirmed African Development Bank’s (AfDB) Long-Term Issuer Default Rating (IDR) at ‘AAA’ with a stable outlook.
The naira depreciated against the US dollar to N1,363.8250 at the Nigerian foreign exchange market (NFEM) as interbank FX turnover declined.
Equities investors lost about N73 billion as the Nigerian Exchange (NGX) All-Share Index (ASI) dipped on Thursday ahead of the Democracy Day holiday.
Ripple (XRP) slipped to $1.10 on Thursday from $1.13, as the price failed to respond positively to improved fundamentals and underperformed a slightly positive broader market.
Binance coin (BNB) price rose by 1% to $600 on Thursday, slightly outperforming a modest market-wide bounce, driven by a relief rally following softer-than-expected U.S. core inflation data.
Ethereum (ETH) price rose slightly in the cryptocurrency market on Thursday, following a surge in the US inflation rate to 4.2% in May and renewed tensions between Washington and Tehran.