Go Unlimited with Magzter GOLD

Get unlimited access to 9,500+ magazines, newspapers and Premium stories for just

$149.99

$74.99/Year

Try GOLD - Free

Go Unlimited with Magzter GOLD

Get unlimited access to 9,500+ magazines, newspapers and Premium stories for just

$NaN

$NaN/Year

Hurry, Limited Period Offer!

Hours

minutes

seconds

The Business NG - August 23, 2024

Go Unlimited with Magzter GOLD

Read The Business NG along with 9,500+ other magazines & newspapers with just one subscription

View Catalog

1 Month

$14.99

1 Year $149.99

$74.99

$6/month

Save 50%
Hurry, Offer Ends in 9 Days

(OR)

Subscribe only to The Business NG

Gift The Business NG

Cancel Anytime.

(No Commitments) ⓘ

If you are not happy with the subscription, you can email us at help@magzter.com within 7 days of subscription start date for a full refund. No questions asked - Promise! (Note: Not applicable for single issue purchases)

Digital Subscription

Instant Access ⓘ

Subscribe now to instantly start reading on the Magzter website, iOS, Android, and Amazon apps.

Verified Secure

payment ⓘ

Magzter is a verified Stripe merchant.

In this issue

Naira's Mixed Signals: Dollar Strengthens as Interest Rate Cut Expectations Rise"

The naira displayed mixed signals against the dollar in Nigerian FX markets on Thursday, as the greenback rose from seven-month lows amid bargain hunting and expectations of interest rate cuts. The naira gained roughly N50, settling at N1,543/$1 on Wednesday, up from N1,592/$1 on Tuesday, according to data from the NAFEM market.

However, the domestic currency lost the N1,600/$ support line in the black market, trading at N1,610/$1 late Wednesday, compared to N1,605/$1 on Tuesday. Market indicators confirm that despite improved macroeconomic conditions in the Nigerian FX market, the local currency is struggling to maintain the crucial N1,500 support level and is under significant strain this month.

Fundamentals suggest that the local currency may move towards N1,800/$1 if it cannot sustain its current levels. At this point, even staunch proponents of free market economics will be skeptical that the naira will reach its March highs this quarter

The Business NG Description:

Publisher: Tuns-Media-&-Comm-Enterprise

Category: Newspaper

Language: English

Frequency: Weekly

The BusinessNG, a leading business news publication across Nigeria and WestAfrica With a strong team of 30 staff members and a weekly print circulation of over 10,000 copies, we are poised for growth and report all political relating to business news at all level