© Reuters. The continuous devaluation of the Nigerian Naira, which recently peaked at N2,010 per CFA1000, has significantly disrupted cross-border trade and led to record high commodity prices. The situation has been particularly severe for traders dealing in rice and frozen poultry products at the Seme-Krake border in Lagos. The price of a 50kg bag
© Reuters. FILE PHOTO: A view shows the newly designed Russian 1000-rouble banknote during a presentation in Moscow, Russia October 16, 2023. REUTERS/Maxim Shemetov/File Photo By Alexander Marrow MOSCOW (Reuters) – The rouble leapt to a more than six-week high against the dollar on Friday after the Bank of Russia hiked interest rates by more
Markets: Gold up $21 to $2006 US 10-year yields down 1 bps to 4.83% WTI crude oil up $1.93 to $85.15 S&P 500 down 0.5% or 20 points to 4117 Nasdaq up 0.4% JPY leads, CHF lags The cross-currents were deep and violent on Friday. Let’s break them down: 1) The fog of war Early
© Reuters. The Nigerian Naira continued its downward trend against major currencies, hitting a record low on Monday. Despite the Central Bank of Nigeria’s (CBN) efforts to manage the currency value by floating it on June 14 and lifting forex restrictions on commodities, the Naira’s depreciation persisted. According to Aboki FX, the Naira started the
© Reuters. FILE PHOTO: A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. REUTERS/Benoit Tessier/File Photo By Hannah Lang and Kanjyik Ghosh (Reuters) -Bitcoin, the world’s largest cryptocurrency, hit a three-month high on Monday, rising 3.62% to $31,087 amid investor enthusiasm about the possibility
© Reuters. U.S. Dollar banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/File photo By Karen Brettell and Amanda Cooper NEW YORK/LONDON (Reuters) – The dollar touched the closely watched 150 level against the yen on Friday, before falling back again, as investors positioned for the Federal Reserve to hold rates higher
XAU/USD, XAG/USD PRICE FORECAST: MOST READ: GBP Price Action Setups: GBP/USD, EUR/GBP, GBP/AUD Post UK CPI Gold extended its gains throughout the day today in light of increased risk aversion from market participants. The rise of the risk-off environment today comes courtesy of an explosion of a hospital in Gaza last night which saw both
© Reuters. FILE PHOTO: A man counts Nigerian naira notes in a market place in Yola, Nigeria, February 22, 2023. REUTERS/Esa Alexander/File Photo ABUJA (Reuters) -Nigeria’s naira hit a record low of 980 per dollar on the official market on Tuesday, Refinitiv data showed, mirroring weakness on the parallel market, as persistent dollar shortages plague
© Reuters On Tuesday, the Kenyan shilling fell to a historic low against the US dollar, with the Central Bank of Kenya (CBK) quoting it at 149.27, an increase from Friday’s close of 149.20. This depreciation has driven up import costs and inflation, according to a CBK statement. The situation has resulted in higher prices
The day started with US yields down marginally after overnight saw the 30-year bond yield touch 5.0% (at 5.01%) before buyers came in and pushed the yield lower. The yield reached the highest level since August 2007 before retreating.. The 10-year yield reached 4.884% and likewise backed off those elevated levels. For the 10 year,
