Equity investors trading highs and lows on the Nigerian Exchange (NGX) lost about N81 billion as the local bourse experienced significant selling pressures in key stocks.

The naira depreciated against the US dollar on Monday at the Central Bank of Nigeria’s Foreign Exchange Market (NFEM) as FX inflow remained stiff.

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Ripple (XRP) price dropped by about 3% to $1.38 on Monday, underperforming a broadly weaker crypto market amid a macro risk-off sell-off.

Offshore or foreign portfolio investment inflows accounted for more than 59% of the US dollars available at Nigeria’s foreign exchange market, details released by the research unit of Coronation Merchant Bank Limited revealed.

Nigeria Eurobonds Yield Climbs as Inflation Shifts Sentiment Nigeria’s Eurobond prices declined in the international market as foreign portfolio investors…

Open repo, and overnight lending rates were steadied despite a surge in liquidity level in the financial system last week. The money market closed with excess liquidity of about N6 trillion despite primary market auctions.

The South African rand lost momentum against Western currencies on Monday amid a US dollar rally, surging global oil prices and an increase in the country’s unemployment Rate.