Week Ahead (August 6 – August 12)

Monday Aug 7

NBS

• Q1, Q2 Household Consumption Expenditure (Food & Non Food)
• Q2 2017 Foreign trade in Merchandise

Tuesday Aug 8

Kenyan general elections

Wednesday Aug 9

U.S EIA Petroleum Status Report

10:30 AM ET

Friday Aug 11

JOHANNESBURG – South African Finance Minister Malusi Gigaba speaks at a breakfast event

0600 GMT

Saturday Aug 12

NBS

• Q2 2017, External trade intensity and re-export Analysis

 

• Q2 2017, Port Activities

 

• Naira outlook

The naira is seen stable in the coming week as the central bank of Nigeria (CBN) sustains its intervention in foreign exchange market.

The local currency is quoted at N365 to the dollar on the black market on Friday, unchanged from last week’s level while the currency stuck at N305.90 to the dollar on the official interbank market.

“The market has been quiet for some time now because of the increased dollar supply from the central bank and offshore investors and it will remain stable in the near term,” said one trader.

Nigeria’s central bank has been intervening in the forex market since February in a bid to ease pressure on the local currency.

Compiled by Patrick Atuanya