Posted September 21, 2021 The naira defied all interventions and continued to slide against other currencies, trading 580 to the dollar in the parallel market on Monday. The rate was N570 / $ on Friday. In another development, the official website of authorized operators of the Bureau of Exchange of the Central Bank of...
Read MoreEconomic developments since the last meeting have raised fears of ‘stagflation’ in the UK, ie slow growth with high inflation. As the main constraint to growth is the supply chain, we don’t expect this to derail the BOC’s monetary policy stance. We expect the central bank to vote unanimously to leave the policy rate...
Read MoreGold Price Talking Points The Federal Reserve interest pricing decision playing September 22 is likely to influence the short-term outlook for the price of gold as the central bank appears to be on track to reduce monetary support. Fundamental Gold Price Forecast: Neutral The price of gold traded at a new monthly low ($...
Read MoreabokiFX, a popular mobile and web platform that collects black market exchange rates in Nigeria, Friday announcement it will temporarily suspend the publication of rates on all its platforms, a few hours after receiving threats from the Central Bank of Nigeria (CBN). The umbrella bank had announced that it would shut down the platform,...
Read More* Comments from head of Brazil’s cenbank worry trader * Chilean markets closed for holiday Friday * Brazilian Vale declares exceptional dividend in first half (adds comments, updates prices throughout) By Susan Mathew and Shreyashi Sanyal Sept. 17 (Reuters) Latin American currencies on Friday with all eyes on the central bank policy meeting next...
Read More(add details) By Chijioke Ohuocha ABUJA, Sept. 17 (Reuters) – Nigeria’s central bank kept its benchmark interest rate unchanged at 11.5% on Friday, its governor said, adding that the bank would seek to flush out illegal traffickers in the forex market . The Nigerian naira has hit new lows in the unofficial market following...
Read MoreThe Philippine peso-US dollar exchange rate would not be affected by the removal of the London Interbank Offered Rate (Libor), which is a benchmark interest rate used in a wide variety of financial transactions, the Bangko Sentral ng Pilipinas ( BSP) insured Thursday. “The stop of the Libor will not affect the US dollar-peso...
Read MoreDynaPay, a bank challenger providing payment accounts, currency exchange and open API banking service for businesses, announces that it has joined the SWIFT network and has obtained its own connected BIC DYPYGB3L. DynaPay will use its SWIFT connectivity to strengthen and improve the experience of cross-border transactions on its correspondent bank networks for DynaPay...
Read MoreThe Central Bank of Nigeria (CBN) argues that there would be a convergence of exchange rates despite the depreciation observed in the black market. CBN Monetary Policy Director Hassan Mahmud said this at a virtual investor conference on Tuesday. He said: “The spot rate is the benchmark rate and I expected several Nigerian exchange...
Read More(Corrects to show euro high of 1.1909, not 1.909) * Dollar falls after U.S. jobs miss * Euro strengthens ahead of ECB meeting next week * Yen shrugs off PM Suga's decision to step down * Graphic: World FX rates tmsnrt.rs/2RBWI5E By Chuck Mikolajczak NEW YORK, Sept 3 (Reuters) - The dollar weakened further...
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