Olumide Adesina, Author at Nairametrics Destination for Business news and analysis from Africa's largest economy Fri, 16 Aug 2024 11:34:57 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 https://nairametrics.com/wp-content/uploads/2021/08/cropped-cropped-favicon-1.png?resize=75,75 Olumide Adesina, Author at Nairametrics 32 32 201037849 Why Nigerians should consider investing in U.S. stocks  https://nairametrics.com/2024/08/16/why-nigerians-should-consider-investing-in-u-s-stocks/ https://nairametrics.com/2024/08/16/why-nigerians-should-consider-investing-in-u-s-stocks/#respond Fri, 16 Aug 2024 11:34:57 +0000 https://nairametrics.com/?p=495941 The American stock market is the most significant globally, accounting for two-thirds of the global market by value.

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]]> https://nairametrics.com/2024/08/16/why-nigerians-should-consider-investing-in-u-s-stocks/feed/ 0 495941 Aliko Dangote’s Wealth Down by $1.2 Billion in 2024  https://nairametrics.com/2024/08/15/aliko-dangotes-wealth-down-by-1-2-billion-in-2024/ https://nairametrics.com/2024/08/15/aliko-dangotes-wealth-down-by-1-2-billion-in-2024/#respond Thu, 15 Aug 2024 10:05:39 +0000 https://nairametrics.com/?p=495849 Aliko Dangote, the business magnate behind the $20 billion refinery in Nigeria's business capital, has seen his wealth decrease by more than $1 billion this year. 

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]]> https://nairametrics.com/2024/08/15/aliko-dangotes-wealth-down-by-1-2-billion-in-2024/feed/ 0 495849 Naira Posts First Loss at Retail Dutch Auction; Traders Await U.S. CPI Data  https://nairametrics.com/2024/08/14/naira-posts-first-loss-at-retail-dutch-auction-traders-await-u-s-cpi-data/ https://nairametrics.com/2024/08/14/naira-posts-first-loss-at-retail-dutch-auction-traders-await-u-s-cpi-data/#respond Wed, 14 Aug 2024 09:31:07 +0000 https://nairametrics.com/?p=495766 The local currency marked its first bearish fall on the Nigerian forex market since the Central Bank of Nigeria began its Dutch Auction System last Tuesday.  

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]]> https://nairametrics.com/2024/08/14/naira-posts-first-loss-at-retail-dutch-auction-traders-await-u-s-cpi-data/feed/ 0 495766 Why you shouldn’t ignore the Nigerian stock market  https://nairametrics.com/2024/08/13/why-you-shouldnt-ignore-the-nigerian-stock-market/ https://nairametrics.com/2024/08/13/why-you-shouldnt-ignore-the-nigerian-stock-market/#respond Tue, 13 Aug 2024 09:39:06 +0000 https://nairametrics.com/?p=495683 The Nigerian stock market is up roughly 31% this year and is in a bull run despite the country's tough economic climate.

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]]> https://nairametrics.com/2024/08/13/why-you-shouldnt-ignore-the-nigerian-stock-market/feed/ 0 495683 Naira shows strength, faces uphill task at N1,500 resistance line  https://nairametrics.com/2024/08/10/naira-shows-strength-faces-uphill-task-at-n1500-resistance-line/ https://nairametrics.com/2024/08/10/naira-shows-strength-faces-uphill-task-at-n1500-resistance-line/#respond Sat, 10 Aug 2024 09:34:05 +0000 https://nairametrics.com/?p=495552 The Naira strengthened against the dollar on Friday, trading at N1,585/$ from N1,590/$ posted on Thursday in the parallel market.  On the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira strengthened to N1,574 against the greenback yesterday. FMDQ data revealed that the NAFEM’s indicative exchange rate decreased to N1,574.2 per dollar on Thursday from N1,593.62/$, […]

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]]> https://nairametrics.com/2024/08/10/naira-shows-strength-faces-uphill-task-at-n1500-resistance-line/feed/ 0 495552 Hawkish U.S. Fed turns Bitcoin red; traders watch $60K support line https://nairametrics.com/2024/08/01/hawkish-u-s-fed-turns-bitcoin-red-traders-watch-60k-support-line/ https://nairametrics.com/2024/08/01/hawkish-u-s-fed-turns-bitcoin-red-traders-watch-60k-support-line/#respond Thu, 01 Aug 2024 14:35:26 +0000 https://nairametrics.com/?p=494953 Bitcoin’s price swiftly dropped below $64K after the U.S. Fed adopted a more hawkish stance. Following a period of relative calm, the flagship cryptocurrency experienced sharp volatility, plunging by over $3.5K to $63.3K on Binance. The U.S. Fed announced that interest rates would remain at 5.25%–5.5%. This revelation caused a slight decline in Bitcoin and […]

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]]> https://nairametrics.com/2024/08/01/hawkish-u-s-fed-turns-bitcoin-red-traders-watch-60k-support-line/feed/ 0 494953 Naira on a 5th losing streak against the U.S. Dollar; Fed interest rate decision takes spotlight https://nairametrics.com/2024/07/31/naira-on-a-5th-losing-streak-against-the-u-s-dollar-fed-interest-rate-decision-takes-spotlight/ https://nairametrics.com/2024/07/31/naira-on-a-5th-losing-streak-against-the-u-s-dollar-fed-interest-rate-decision-takes-spotlight/#respond Wed, 31 Jul 2024 10:29:56 +0000 https://nairametrics.com/?p=494856 The Naira posted its worst dip since April despite the weakening U.S. dollar index.

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]]> https://nairametrics.com/2024/07/31/naira-on-a-5th-losing-streak-against-the-u-s-dollar-fed-interest-rate-decision-takes-spotlight/feed/ 0 494856 Dangote lost $651 million amid sell-offs in Dangote Cement and naira’s rapid fall  https://nairametrics.com/2024/07/28/dangote-lost-651-million-amid-sell-offs-in-dangote-cement-and-nairas-rapid-fall/ https://nairametrics.com/2024/07/28/dangote-lost-651-million-amid-sell-offs-in-dangote-cement-and-nairas-rapid-fall/#respond Sun, 28 Jul 2024 14:42:55 +0000 https://nairametrics.com/?p=494610 Aliko Dangote, Africa's richest man, lost $651 million due to naira devaluation and sell-offs in Dangote Cement, affecting his wealth.

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]]> https://nairametrics.com/2024/07/28/dangote-lost-651-million-amid-sell-offs-in-dangote-cement-and-nairas-rapid-fall/feed/ 0 494610 Naira posts mild gains amid a bumpy U.S. dollar https://nairametrics.com/2024/07/27/naira-posts-mild-gains-amid-a-bumpy-u-s-dollar/ https://nairametrics.com/2024/07/27/naira-posts-mild-gains-amid-a-bumpy-u-s-dollar/#respond Sat, 27 Jul 2024 10:21:05 +0000 https://nairametrics.com/?p=494540 The Nigerian naira showed little strength at the last trading session of the week, appreciating to below N1600 amid a volatile dollar index in global markets.

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]]> https://nairametrics.com/2024/07/27/naira-posts-mild-gains-amid-a-bumpy-u-s-dollar/feed/ 0 494540 Over 73k traders lose all amid uninspiring Ethereum Spot ETFs https://nairametrics.com/2024/07/25/over-73k-traders-lose-all-amid-uninspiring-ethereum-spot-etfs/ https://nairametrics.com/2024/07/25/over-73k-traders-lose-all-amid-uninspiring-ethereum-spot-etfs/#respond Thu, 25 Jul 2024 06:47:05 +0000 https://nairametrics.com/?p=494338 A total of 73,704 traders were liquidated for the day, resulting in a total liquidation value of $292.25 million. On Binance, the largest liquidation order ever occurred, with a BTCUSDT value of $11.78 million.

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]]> https://nairametrics.com/2024/07/25/over-73k-traders-lose-all-amid-uninspiring-ethereum-spot-etfs/feed/ 0 494338 Naira posts best daily gains since March amid increased FX inflows, anticipated interest rate hike https://nairametrics.com/2024/07/23/naira-posts-best-daily-gains-since-march-amid-increased-fx-inflows-anticipated-interest-rate-hike/ https://nairametrics.com/2024/07/23/naira-posts-best-daily-gains-since-march-amid-increased-fx-inflows-anticipated-interest-rate-hike/#respond Tue, 23 Jul 2024 06:24:32 +0000 https://nairametrics.com/?p=494128 The naira posted impressive gains against the haven currency amid increased inflows from the CBN, recording its best gains since March.

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]]> https://nairametrics.com/2024/07/23/naira-posts-best-daily-gains-since-march-amid-increased-fx-inflows-anticipated-interest-rate-hike/feed/ 0 494128 Bonny Light settles at $88 a barrel amid Israeli-Houthi conflict https://nairametrics.com/2024/07/22/bonny-light-settles-at-88-a-barrel-amid-israeli-houthi-conflict/ https://nairametrics.com/2024/07/22/bonny-light-settles-at-88-a-barrel-amid-israeli-houthi-conflict/#respond Mon, 22 Jul 2024 07:48:57 +0000 https://nairametrics.com/?p=494041 Bonny Light crude reaches $88 per barrel amid Israeli-Houthi conflict, with rising tensions and potential September rate-cut signs.

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]]> https://nairametrics.com/2024/07/22/bonny-light-settles-at-88-a-barrel-amid-israeli-houthi-conflict/feed/ 0 494041 Summer vacation, strong U.S. dollar push naira to a 4-month low https://nairametrics.com/2024/07/20/summer-vacation-strong-u-s-dollar-push-naira-to-a-4-month-low/ https://nairametrics.com/2024/07/20/summer-vacation-strong-u-s-dollar-push-naira-to-a-4-month-low/#respond Sat, 20 Jul 2024 09:36:33 +0000 https://nairametrics.com/?p=493929 The strong U.S. dollar and summer vacation have increased foreign currency demand, pushing the naira to a four-month low.

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]]> https://nairametrics.com/2024/07/20/summer-vacation-strong-u-s-dollar-push-naira-to-a-4-month-low/feed/ 0 493929 Nigerian crude grades trade below $90 a barrel amid China’s tepid economic data https://nairametrics.com/2024/07/16/nigerian-crude-grades-trade-below-90-a-barrel-amid-chinas-tepid-economic-data/ https://nairametrics.com/2024/07/16/nigerian-crude-grades-trade-below-90-a-barrel-amid-chinas-tepid-economic-data/#respond Tue, 16 Jul 2024 12:21:10 +0000 https://nairametrics.com/?p=493536 Nigerian crude grades fall below $90 a barrel as China's weak economic data and potential U.S. interest rate cuts influence market.

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]]> https://nairametrics.com/2024/07/16/nigerian-crude-grades-trade-below-90-a-barrel-amid-chinas-tepid-economic-data/feed/ 0 493536 Trump’s effect, high dollar demand push naira to lowest level since March 15 https://nairametrics.com/2024/07/16/trumps-effect-high-dollar-demand-push-naira-to-lowest-level-since-march-15/ https://nairametrics.com/2024/07/16/trumps-effect-high-dollar-demand-push-naira-to-lowest-level-since-march-15/#respond Tue, 16 Jul 2024 08:51:52 +0000 https://nairametrics.com/?p=493497 The naira fell for a fifth day against the greenback despite the CBN's assistance, hitting its lowest level since March amid high demand for U.S. dollars and heightened geopolitical uncertainty.

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]]> https://nairametrics.com/2024/07/16/trumps-effect-high-dollar-demand-push-naira-to-lowest-level-since-march-15/feed/ 0 493497 Naira tumbles above the N2,000 mark against British pound https://nairametrics.com/2024/07/11/naira-tumbles-above-the-n2000-mark-against-british-pound/ https://nairametrics.com/2024/07/11/naira-tumbles-above-the-n2000-mark-against-british-pound/#comments Thu, 11 Jul 2024 08:09:41 +0000 https://nairametrics.com/?p=493044 Naira fell below N2,000 against the British pound as UK economic data exceeded expectations, impacting currency markets significantly.

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]]> https://nairametrics.com/2024/07/11/naira-tumbles-above-the-n2000-mark-against-british-pound/feed/ 1 493044 Naira loses key support on ravaging U.S. dollar https://nairametrics.com/2024/07/09/naira-loses-key-support-on-ravaging-u-s-dollar/ https://nairametrics.com/2024/07/09/naira-loses-key-support-on-ravaging-u-s-dollar/#comments Tue, 09 Jul 2024 10:34:44 +0000 https://nairametrics.com/?p=492882 Naira falls as increased demand pressures the local currency, while the U.S. dollar index maintains its bullish trend.

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]]> https://nairametrics.com/2024/07/09/naira-loses-key-support-on-ravaging-u-s-dollar/feed/ 1 492882 Crypto market turns green, downside risk remains high https://nairametrics.com/2024/07/09/crypto-market-turns-green-downside-risk-remains-high/ https://nairametrics.com/2024/07/09/crypto-market-turns-green-downside-risk-remains-high/#respond Tue, 09 Jul 2024 08:53:13 +0000 https://nairametrics.com/?p=492879 The crypto market shows turbulence with Bitcoin sales in Germany, but promising future driven by sustained risk-taking and macroeconomic circumstances.

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]]> https://nairametrics.com/2024/07/09/crypto-market-turns-green-downside-risk-remains-high/feed/ 0 492879 New UK Leader: British pound shows strength against naira and U.S dollar https://nairametrics.com/2024/07/05/new-uk-leader-british-pound-shows-strength-against-naira-and-u-s-dollar/ https://nairametrics.com/2024/07/05/new-uk-leader-british-pound-shows-strength-against-naira-and-u-s-dollar/#respond Fri, 05 Jul 2024 06:39:38 +0000 https://nairametrics.com/?p=492599 The global currency market got the much-needed reassurance after years of market volatility under the Conservatives when Keir Starmer's centre-left Labour Party gained a substantial majority in the UK general election

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]]> https://nairametrics.com/2024/07/05/new-uk-leader-british-pound-shows-strength-against-naira-and-u-s-dollar/feed/ 0 492599 Bitcoin drops by 3% as 100,565 traders lose $262 million https://nairametrics.com/2024/07/04/bitcoin-drops-by-3-as-100565-traders-lose-262-million/ https://nairametrics.com/2024/07/04/bitcoin-drops-by-3-as-100565-traders-lose-262-million/#respond Thu, 04 Jul 2024 08:34:24 +0000 https://nairametrics.com/?p=492499 The early morning trading session saw a 3% loss in Bitcoin price before it partially recovered to trade at $58.8K during the Asian trading session.

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]]> https://nairametrics.com/2024/07/04/bitcoin-drops-by-3-as-100565-traders-lose-262-million/feed/ 0 492499