Browsing: FX Market
The Nigerian naira declined across foreign currency markets due to surging demand for the US dollar, the Euro and the Sterling. Daily FX data released by the Central Bank of Nigeria (CBN) showed that the local currency closed the trading session at ₦1,375.4073 per US dollar, up from ₦ 1,374.9172 the previous day.
The naira recorded a market-wide rally as Nigeria’s economy expanded in the first quarter of 2026, according to the statistics office, with FX data showing the dollar retreated on Middle East hope.
The South African rand (ZARUSD) rose to R16.4 per US dollar on Friday, hovering near its highest level since mid-May. The local unit saw a last-minute rally after a sharp fluctuation against crosses this week.
Naira Drops to N1,375/$ as Interbank FX Turnover Crashes Increased demand for the US dollar in the Nigerian foreign exchange…
South African rand (ZAR) trades soft against the US dollar, Euro, and British pound on Friday as the gold rally eases amid US-Iran peace deal negotiations.
The Nigerian local currency, naira, climbed against the US dollar at the Nigerian foreign exchange market (NFEM) amid improved hard-currency liquidity.
The naira weakened further across the official and parallel markets on Tuesday. The local unit depreciated by 0.01% to ₦1,373.87 against the US dollar at the Nigerian foreign exchange market (NFEM) window as pressures persisted.
The naira depreciated against the US dollar on Monday at the Central Bank of Nigeria’s Foreign Exchange Market (NFEM) as FX inflow remained stiff.
The South African rand lost momentum against Western currencies on Monday amid a US dollar rally, surging global oil prices and an increase in the country’s unemployment Rate.
Naira Opens Weak, Nigeria’s FX Reserves Signal Uptrend The Nigerian naira opened weak on Monday after a weekly value depreciation…