MARKET UPDATE
Advertisement

TheCable

Tag "pound"

New FX regime ‘failing’ to bridge parallel and interbank markets gap

    New FX regime ‘failing’ to bridge parallel and interbank markets gap

The new foreign exchange regime is failing to bridge the gap between parallel and interbank market rates of the naira to foreign currencies, TheCable can report. At the introduction of

0 comment Read Full Article

It’s official… pound is now the worst performing currency of 2016

    It’s official… pound is now the worst performing currency of 2016

The British pound has become the worst performing major currency of 2016, sinking to a 31-year low after Brexit vote. On June 23, the UK voted to exit the European

0 comment Read Full Article

Naira rises to 364/£1 but Nigerians can barely buy or sell

    Naira rises to 364/£1 but Nigerians can barely buy or sell

The naira is currently trading at 364 to the British pound but Nigerians can barely buy or sell. The local currency, which traded at 376 to the pound on Monday,

0 comment Read Full Article

Post-Brexit jitters trigger flight to safety

    Post-Brexit jitters trigger flight to safety

Stock markets were placed on a messy roller coaster ride during trading this week as the ongoing Brexit anxieties and persistent concerns over the global economy weighed on investor sentiment.

0 comment Read Full Article

Pound drops to lowest levels in over 30 years

  Pound drops to lowest levels in over 30 years

While the Pound/Dollar is currently trying to move back towards 1.30, the pair has experienced a really rough previous 24

0 comment Read Full Article

Naira closes strong on pounds but remains weak to the dollar

  Naira closes strong on pounds but remains weak to the dollar

The naira on Friday continued to lose steam against the dollar at the parallel market, in spite of the new

3 comments Read Full Article

Banks still charging parallel market rates as naira returns to ‘business as usual’

  Banks still charging parallel market rates as naira returns to ‘business as usual’

Deposit money banks (DMBs) are still charging their customers parallel market rates for foreign exchange transactions done via the bank’s

3 comments Read Full Article

Parallel market immune to Brexit as pound trades at N485

  Parallel market immune to Brexit as pound trades at N485

The Nigerian parallel market is perhaps the only market in the world to be unperturbed by all the drama in

0 comment Read Full Article

Pound falls to 31-year low as UK divorces EU

  Pound falls to 31-year low as UK divorces EU

The British pound fell to a 31-year low on Friday, its lowest since 1985, as the United Kingdom (UK) voted

1 comment Read Full Article

Brexit commotions heighten Sterling sensitivity

  Brexit commotions heighten Sterling sensitivity

The Sterling was catapulted onto an unpredictable path during trading this month as the intensifying Brexit debate heightened currency sensitivity

0 comment Read Full Article