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FX Market
The official exchange rate weakened to near N1,351 as the Naira continued to face selloffs, driven by rising demand for international payments, settlements of offshore liabilities, and offshore repatriations.
The Nigerian naira rose against the crosses in the official market on Tuesday, reflecting improved FX conditions
Naira Softens as FX Demand Eclipses US Dollar Liquidity The Naira depreciated slightly at the…
The Central Bank of Nigeria (CBN) sold $950 million to banks and other authorised dealers in the foreign exchange market last week to address the liquidity gap and strengthen the local currency.
Naira exchange rates strengthened 116 pips, or 1.16% week-on-week, against the US dollar
The naira rose against the US dollar at the Nigerian foreign exchange market (NFEM) on Wednesday as data showed interbank FX trading moderated.
Naira losses against the US dollar deepened at the Nigerian Foreign Exchange Market (NFEM), the official window for the Central Bank’s daily FX rate.