Commodities | |
Commodities | |
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PROSHARE | |
PROSHARE |
Wednesday,
September 02, 2020 / 3:29 PM / FDC / Header Image Credit: FDC Limited
The
US dollar fell to a two-year low against a basket of currencies and a 9.7%
appreciation of the Naira to N435/$. Brent also rallied by 1.15% to $45.80pb.
In
Nigeria, this means higher oil proceeds and short term accretion to External
Reserves. However, the proposed resumption in forex sales by the CBN
could offset the expected rise in reserves. External reserves could fall to
$34bn in October.
The
slides below provide a snapshot of the discussion in the Commodities segment of
the Business Morning programme on Channels TV by the Head of the FDC Think
Tank.
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