Browsing: DXY
CBN Defends Nigerian Naira With $37m Sold to Banks The Central Bank of Nigeria (CBN) spent additional $37 million in…
The global commodities market saw a decline in oil prices as the US dollar rose above its two-year high following the Fed’s rate cut. Brent declined around $72 per barrel while US WTI plunged below $69 per barrel as dollar gain overshadowed 25 basis points Fed funds rates cut.
The US dollar rose against its major trading partners early Tuesday ahead of the release of sales and consumer inflation
US Dollar Slides Against GBP, EUR Ahead of Data The US dollar fell against its major trading partners early Wednesday…
Prices of crude oil decline over rising U.S dollar. The global commodity market trading bearish ahead of US Federal Reserve (Fed) Chairman Jerome Powell speech. The U.S Fed chair is scheduled to speak on the economic outlook after inflation surge triggered caution markets temperature. Strong dollar has raised energy costs for major importers –China, US and India amidst geopolitical tensions.
The US dollar traded on a mixed note against its major trading partners in the forex markets on Wednesday—up versus the yen and Canadian dollar.
The prices of crude oil dropped further in the global commodities market on Tuesday as Chinese demand is expected to remain weak, supported by strengthened U.S dollar.
US Dollar Falls Ahead of Election, Fed Rates The US dollar fell against its major trading partners early Monday as…
Naira Exchange Rates Mixed 31-day After FX Auction The Nigerian naira exchange rates for obtaining one US dollar ended on…
Nigeria’s foreign exchange crisis has gotten so bad that even the monetary authority’s currency injections have not been able to reverse the value of the naira. It was a fight to survival in the foreign exchange market where sustained demand for imports forced the Nigerian naira to descend for a kiss with the dragon, which caused the local currency to bleed.