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Treasury Newsletter – March 31, 2020

The travel restrictions and other measures being implemented around the world in order to curb the Coronavirus pandemic has led to the shutdown of the...

Drop in Nigeria Foreign Reserves

The travel restrictions and other measures being implemented around the world in order to curb the Coronavirus pandemic has led to the shutdown of the global economy.

Oil Price plunges to $22, lowest in 18 years

The international oil benchmark, Brent crude, plunged to its cheapest in 18 years on Monday as it traded around $22 per barrel. This comes amid growing fears that the global coronavirus shutdown could last months and demand for fuel could decline further.

Oil demand could decline by 20 million barrels a day in April, says expert

The oil market is facing a “double crisis” with a collapse in the OPEC+ alliance affecting supply and the slowdown in the global economy crushing demand, oil guru Dan Yergin said this week.

Dollar exchange for N412 at the parallel market

The dollar exchanged for N412 on Monday at the Bureau De Change segment of the market. This followed a temporary suspension of sale of forex to the Bureau De Change operators in the industry by the Central Bank of Nigeria.

 

Please read full report below…

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