FDC COMMODITY UPDATE – MARCH 09, 2017

Naira volatility continued with a slight appreciation to N462/$. The CBN seems determined to intervene more aggressively in the forex market.

However, domestic commodity retailers have shrugged off the currency appreciation by holding firm to their current prices.

With oil down to $52pb, we may begin to see the CBN step back a little in its forex supply programme.

The attached report summarizes the commodity price movements for this week