Dear Subscriber,

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.

The slides contain a snapshot of developments in the global and domestic commodities market and the likely impact on inflation and the value of the naira.

Enjoy your read!