Domestic Commodity Prices In Lagos Up On Bridge Closure And Eid Kabir Festival


Tuesday, July 28, 2020 / 06:20 PM / FDC / Header Image Credit: FDC Ltd


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The inverse relationship between the price of oil and the value of the US dollar is playing out again in oil market volatility and the unusual spike in the price of gold, which has now reached an 11-year high of $1,994/t oz.

The difficulty for oil exporters is that they are exchanging every barrel of oil for a weaker dollar relative to the basket of currencies of their imports.

In the slides below the Head of FDC Think Tank dissects the immediate and remote consequences of this bridge closure on domestic commodities in Lagos.

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