Naira gains at forex markets as dollar supply rises by 108.5% with drop in demand  – Nairametrics

naira-gains-at-forex-markets-as-dollar-supply-rises-by-108.5%-with-drop-in-demand -–-nairametrics

Friday, 30th July 2021: The exchange rate between the naira and the US dollar closed lower at N411.44/$1 at the official Investors and Exporters window.  Naira appreciated against the US dollar to close at N411.44/$1 on Friday, representing a 0.06% gain compared to N411.67/$1 recorded on the previous day.   Also, naira appreciated the parallel market to close at N515/$1, having traded at N520/$1 on the previous … Read more

China’s data disappoints, as oil prices fall – Nairametrics

china’s-data-disappoints,-as-oil-prices-fall-–-nairametrics

China, the second-largest oil consumer globally, posted a slightly poor economic report which clouded the fuel demand outlook in the near term. An earlier report by Caixin showed China’s manufacturing purchasing managers’ index (PMI) was 50.3 in July, lower than expected. On Saturday, manufacturing and nonmanufacturing PMIs came in at 50.4 and 53.3 respectively. Business … Read more