Dollar up on solid US August jobs report; trade tensions lurk


The U.S. dollar rose against a basket of other currencies on Friday, as U.S. job growth surged in August, but investor concerns about a possible escalation of the U.S.-Chinese trade conflict held gains in check. Nonfarm payrolls surged by 201,000 jobs last month, the U.S. Labor Department said on Friday. Average hourly earnings increased 0.4 […]

Dollar bulls take a break as greenback tumbles to two-week low


The United States dollar tumbled to a two-week low against a basket of major currencies late Wednesday after the US and the European Union agreed on steps to de-escalate trade tensions. The downside was complimented by disappointing new homes sales data from the United States, which encouraged sellers to attack. There is also a suspicion […]

Inter-bank market rates dip 0.02% on low trading activity

Capital importation,Market Rates

The Nigerian Inter-bank currency market rate closed Tuesday at N305.90, representing a 0.02 percent depreciation against closing price at previous sessions as activity remained low with quotes ranging between N305.35/$ and N306.35/$ At the Investors and Exporters (I&E) foreign exchange window the dollar opened at N361.85, traded high at N363.00 and eventually closed at N361.68, […]

CBN flags off SMIS in Chinese Yuan

Chinese Yuan

The Central Bank of Nigeria (CBN) Friday, July 20, 2018, flagged off its intervention in the sale of foreign exchange in Chinese Yuan, signaling the consummation of the bilateral currency swap agreement (BCSA) signed with the People’s Bank of China (PBoC) in April. According to a statement, the CBN disclosed that the sales would be […]