Parallel Market Rate at an All-time High of N550

El Passo

Tuesday, September 14,
2021 / 1:46 PM / by CSL Research / Header Image Credit: AZA Finance

In recent weeks, severe pressure has been mounting on
the exchange rate at the parallel market following the Central Bank of
Nigeria’s (CBN) policy stance to discontinue the supply of FX to Bureau De
Change Operators (BDCs). Consequently, the premium between the parallel market
rate and the rate at the Investors & Exporters (I&E) window has
continued to widen. Since the last Monetary Policy Committee (MPC) meeting when
the decision was made, the Naira at the parallel market had depreciated by 8.2%
to

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Croatia likely to join euro area with 7.53 kuna/euro exchange rate

El Passo

ZAGREB (Croatia), September 14 (SeeNews) – Croatia is likely to join the euro area with the exchange rate of 7.53 kuna per euro set by the European Central Bank (ECB) when it accepted the Croatian currency to the Exchange Rate Mechanism (ERM II) last year, the country’s central bank governor Boris Vujcic said.

This will most likely be the exchange rate at the time of entry, as most countries of the euro area with one exception have so far entered it with the exchange rate at which they were admitted into ERMII, the training grounds for euro adoption, Vujcic said

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Lawmaker Blasts Emefiele Over “Scary” Exchange Rate

El Passo

By Dipo Olowookere

Investing in stocks on the Nigerian Exchange (NGX) Limited in 2021 has made some investors richer in the midst of the harsh economic environment in the country.

Data from the exchange has shown that in this year alone, investors have earned over N700 billion from dividend payout by companies trading their shares on the Lagos-based bourse.

Business Post gathered that five of the 58 firms, which have declared various cash rewards to shareholders in the past nine months, are the highest dividend-paying stocks, accounting for N561.5 billion.

These organisations are Dangote Cement (N272.7 billion), MTN Nigeria (N92.6

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Pound US Dollar Exchange Rate Gains

El Passo

GBP/USD Wavers as Both Currencies Face Headwinds

The Pound US Dollar (GBP/USD) exchange rate has wavered today, with the Pound (GBP) trending slightly higher, as both currencies face challenges.

Sterling is somewhat subdued following the UK’s decision to raise national insurance contributions, while the US Dollar (USD) is feeling the combined weight of falling US Treasury yields and a shift in risk sentiment.

Pound (GBP) Exchange Rates Capped by Domestic Concerns

The Pound (GBP) is fairly subdued today as an absence of UK data leaves Sterling open to losses, while domestic headlines could create some challenges for the currency.

Additionally,

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Today’s Lebanese Lira/US Dollar Exchange Rate: September 14th, 2021

El Passo

As of Tuesday, black market traders in Lebanon are selling the US Dollar for 16,250 LBP and buying it for 16,300 LBP.

The current official rate still stands at $1 = 1,500 L.L. and the bank rate at $1 = 3,900 L.L.

Lebanon is currently experiencing hyperinflation as a result of an ongoing economic crisis since the end of 2019. The Lebanese lira has been drastically falling against the previously fixed US dollar rate of $1 = 1,500 L.L.

This has caused banks to create an unofficial capital control – basically freezing accounts and only releasing a limited amount of

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