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FX Market
The South African rand traded relatively stable against the US dollar, euro, and British pound as investors continue to assess developments surrounding the reopening of the Strait of Hormuz while digesting softer US inflation data.
The Nigerian naira extended its momentum against the US dollar in the official foreign exchange market, driven by robust FX liquidity and easing demand for international payments.
The Nigerian naira strengthened against Western currencies, including the US dollar, at the foreign exchange market on Wednesday despite an increase in international payments.
The naira closed stronger at N1365 per US dollar at the official currency market, gaining about N3 week on week
South African Rand Trades Sideways as Risk Sentiment Improves The South African rand (ZAR) traded…
The Nigerian naira declined against dominant Western currencies on Thursday amid record demand
The naira slid by ₦1.30 to ₦1,363.85 at the Nigerian foreign exchange market …
The rand is firmer against crosses, including the dollar (USD), the Euro (EUR) , and the British pound (GBP),
The Nigerian naira firmed to ₦1,362.5543 per US dollar at the official window on Tuesday, as forex supply eclipsed international payment requests.