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NEWS

Strong US jobs report boosts Asian markets, dollar

Asian markets rose Monday after a blockbuster US jobs report soothed any concerns about the world’s top economy. At the same time, the dollar held gains with traders scaling back bets on another bumper interest rate cut. Oil prices edged down as traders await Israel’s response to Iran’s missile barrage last week amid fears of a region-wide war in the Middle East. All three main indexes on Wall Street rallied […]

todayOctober 7, 2024 10

BUSINESS

Dollar speculation: FG rubbishes Binance CEO’s bribery allegation

The Federal Government on Tuesday vowed to pursue the criminal case against the crypto platform, Binance, and its officials, to a logical end. Speaking against the backdrop of a bribery allegation made by the Binance Chief Executive Officer, Richard Teng, in a blog post published by the New York Times, top officials of the President Bola Tinubu administration described as false and unfounded the accusation that some individuals demanded $150m […]

todayMay 8, 2024 20

BUSINESS

NAFEM: Dollar supply rises by 180% as banks sell $440m

Dollar supply in the official foreign exchange market rose by 180.59 percent to $440.13m on Friday. This is as the naira closed the week at N1435.53/$ on Friday after what was a turbulent week. According to data from FMDQ Security Exchange, forex turnover rose by 180.59 percent to $440.13m on Friday from $156.86m on Thursday. However, aside from commercial banks, the Central Bank of Nigeria, oil firms and multinationals also […]

todayFebruary 5, 2024 60

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