{"id":27046,"date":"2018-12-07T12:00:03","date_gmt":"2018-12-07T12:00:03","guid":{"rendered":"http:\/\/fdcng.com\/?p=27046"},"modified":"2018-12-07T12:00:03","modified_gmt":"2018-12-07T12:00:03","slug":"fdc-bi-monthly-economic-business-update-november-29-2018-re-why-is-the-naira-falling-sharply-n370","status":"publish","type":"post","link":"https:\/\/fdcng.com\/fdc-bi-monthly-economic-business-update-november-29-2018-re-why-is-the-naira-falling-sharply-n370\/","title":{"rendered":"FDC BI-MONTHLY ECONOMIC & BUSINESS UPDATE – NOVEMBER 29, 2018 (Re – Why is the naira falling sharply – (N370\/$))"},"content":{"rendered":"

[vc_row][vc_column]

DOWNLOAD PDF<\/a><\/div> [\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Dear Subscriber,<\/p>\n

December is the month when the naira usually gets stronger in the forex market. So why has it lost approximately 3%-4% in the last week and why are traders and investors getting more jittery?<\/p>\n

The external reserves have increased by 0.75% after an extended period of depletion, the price of cocoa is at a high of $2,145 per tonne. This is the season for the main crop harvest and inflows of approximately $429 million are expected.<\/p>\n

The visiting friends and relatives of Nigerians control at least 5% of Nigeria Diaspora remittances ($22bn), meaning an inflow of approximately https:\/\/diazepamshops.com<\/a> .1bn in a six week period.<\/p>\n

The price of oil has lost 30% from its high in October but it is still trading at $58pb whilst production is up at 1.8mbpd.<\/p>\n

Therefore, why the anxiety and why is the forex market turning into a speculator’s paradise? It all comes down to the political risk premium and investor jitters building up towards an election season.<\/p>\n

In the attached bulletin, the FDC Think-Tank takes a deep dive into the exchange rate misalignment and the market conditions that breed multiple exchange rates, speculative activity and arbitrageurs in a thin and inefficient forex market in Nigeria.<\/p>\n

Enjoy your read.[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"

[vc_row][vc_column][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Dear Subscriber, December is the month when the naira usually gets stronger in the forex market. So why has it…<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,35,21],"tags":[],"_links":{"self":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts\/27046"}],"collection":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/comments?post=27046"}],"version-history":[{"count":1,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts\/27046\/revisions"}],"predecessor-version":[{"id":27047,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts\/27046\/revisions\/27047"}],"wp:attachment":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/media?parent=27046"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/categories?post=27046"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/tags?post=27046"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}