• About Us
  • Advertise
  • Contact Us
  • Privacy Policy
Saturday, September 23, 2023
NewsOnline Nigeria
  • Latest Posts
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Education
  • Sports
  • Lifestyle
  • TV Station
No Result
View All Result
  • Latest Posts
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Education
  • Sports
  • Lifestyle
  • TV Station
No Result
View All Result
NewsOnline Nigeria
No Result
View All Result
  • Latest Posts
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Education
  • Sports
  • Lifestyle
  • TV Station

BREAKING: Naira Recovers Against Dollar At Investors And Exporters Window

by Justice Winner
January 10, 2022
in Economy And Business, Headline
dollar to naira exchange rate

Naira has recovered against the dollar at investors and exporters window as crude oil prices rise.

 

 

NewsOnline reports that naira and us dollar exchange rate in the just concluded week recovered (Naira appreciated) by 4.37% to close at N416.00/USD at the Investors and Exporters FX window as Bonny Light price, the Nigerian variant of crude oil, rose w-o-w by 3.80% to USD82.13 as of Thursday, January 6, 2022.

 

ALSO: Black Market Dollar To Naira Exchange Rate Monday, 10th January 2022

 

However, Naira depreciated against the greenback by 1.29% to close at N572.20/USD at the Parallel market.

READ ALSO

Tinubu Government Cautions Fuel Station Operators Against Pump Alteration

BREAKING: Egypt Defeats Nigeria In Africa Women’s Youth Handball Championship Semis

BREAKING: NLC Speaks On Commencing Nationwide Indefinite Strike

It’s False, NNPCL Not Involved In Secret Recruitment

 

At the Interbank Foreign Exchange market, NGN/USD closed flat at N430.00/USD amid CBN’s weekly injections of USD210 million: USD100 million was allocated to Wholesale Secondary Market Intervention Sales (SMIS), USD55 million was allocated to Small and Medium Scale Enterprises and USD55 million was sold for Invisibles.

 

Meanwhile, the Naira/USD exchange rate appreciated for all foreign exchange forward contracts. Notably, 1 month, 2 months, 3 months, 6 months and 12 months contracts fell by 0.50%, 0.93%, 0.86%, 1.21% and 1.33% to close at N416.78/USD, N419.37/USD, N422.70/USD, N432.40/USD and N442.85/USD respectively.

 

In line with analyst expectations, the domestic bourse closed positively in the first week of trading session in 2022 as the bullish momentum was chiefly driven by the newly listed BUAFOODS shares.

 

Notably, amid the strong demand from investors who were willing to own part of the 18 billion ordinary shares of BUAFOODS which was listed at N40.00, the share price appreciated to N53.20– gaining 33% within the space of three days.

 

BREAKING: Buhari Meets Tinubu In Aso Rock

Similarly, shares prices of CORNERST, WEMABANK and JAPAULGOLD also rose by 20%, 18% and 15% respectively. Hence, the All-Share Index rose w-o-w by 2.66% to close at 43,854.42 points. Also, market capitalization rose w-o-w by 5.97% to close at N23.63 trillion still on BUAFOODS listing. Similarly, the sector gauges mirrored the benchmark index as three of the five sub-indices tracked closed in green.

 

Sub-indices were largely positive, especially the NGX Oil/Gas, NGX Banking and the NGX Industrial indices which rose by 2.68%, 0.78% and 0.34% respectively to close at 354.26 points, 409.22 points and 2,015.22 points respectively. However, the NGX Consumer Goods index and the NGX Insurance indices lost 0.93% and 0.87% to close at 196.26 points and 584.13 points respectively.

 

Meanwhile, market activity was upbeat as deals, volume and value of stocks traded ballooned by 53.45%, 103.67% and 346.78% 15,750 deals, to 2.03 billion units and N59.01 billion respectively as over N40 billion BUAFOODS shares exchanged hands.

In the new week, Analysts at Cowry Assets Management expect the equities market to remain upbeat as investors continue to position in readiness for dividend distributions in the first quarter of 2022.

“We also expect Naira to remain stable against the USD as the price of crude oil at the international market remains elevated following the agreement by OPEC+ producers to stick to their planned increase for February based on indications that Omicron would have only a mild impact on demand.”

Previous Post

BREAKING: Buhari Meets Tinubu In Aso Rock

Next Post

Latest JAMB News On 2021 Tertiary Institutions Admissions List

Justice Winner

Justice Winner

Justice Winner is a Veteran Nigerian Journalist With Expertise in Writing Nigeria News, Entertainment and Politics. He has a degree in Journalism/Mass Communication Studies. Justice is a dedicated and talented writer committed to producing high-quality content that is authoritative, informative, entertaining, and engaging. Connect with Him on Instagram , Facebook, Twitter, and LinkedIn.

Related Posts

Fuel Station Operators
Crime Watch

Tinubu Government Cautions Fuel Station Operators Against Pump Alteration

Africa Women’s Youth Handball Championship Semis
Headline

BREAKING: Egypt Defeats Nigeria In Africa Women’s Youth Handball Championship Semis

NLC
Headline

BREAKING: NLC Speaks On Commencing Nationwide Indefinite Strike

Next Post
JAMB Result 2022 Is Out

Latest JAMB News On 2021 Tertiary Institutions Admissions List

Trending Posts

Fuel Subsidy

BREAKING: FG Begins Payment of Fuel Subsidy, May Pay N1.68tn By December

Mohbad Autopsy

BREAKING: Police Conclude Mohbad Autopsy Process

All Progressives Congress Women Leader Is Dead

BREAKING: All Progressives Congress Women Leader Is Dead (PHOTO)

Tinubu Chicago School Records

BREAKING: US Court Stops Release Of Tinubu Chicago School Records To Atiku

2023 Independence Day Celebration

FG Makes Important Announcement On 2023 Independence Day Celebration

NLC

BREAKING: NLC Speaks On Commencing Nationwide Indefinite Strike

Tinubu

BREAKING: Tinubu Stops Chicago University From Releasing Academic Records To Atiku

Naira

Black Market Dollar To Naira Today, 22 September 2023 In Lagos & Abuja

EFCC

EFCC Declares Delta Brothers Wanted Over N330m Fraud

Naira

BREAKING: Naira Falls Massively Amid Forex Scarcity, See New Exchange Rate

ADVERTISEMENT

ABOUT US

NewsOnline Nigeria is Nigeria’s fastest growing trusted independent online newspaper covering Africa’s socio-economic issues, trades and investments; it provides informed perspectives on economic and political events in Nigeria and Africa at large.

Relevant Pages

  • About Us
  • Advertise
  • Contact Us
  • Privacy Policy

Reach Us

6th Avenue, Festac Town, Lagos

+234 816 184 6326

[email protected]

Alert Us

Important Press Releases, Breaking Stories, Special Investigations: [email protected]

Copyright © 2023 Newsonline Nigeria

No Result
View All Result
  • Latest Posts
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Education
  • Sports
  • Lifestyle
  • TV Station

Copyright © 2023 Newsonline Nigeria