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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 pulled back against the US dollar (USD), Euro (EUR), British pound (GBP), and Japanese Yen
South African Rand Firmer as Markets Anticipate US to Keep Rates The South African rand…
The Nigerian naira appreciated to N1,343 against the US dollar on Tuesday, as the currency continued to gain momentum in the foreign exchange market.
South African Rand Weakens Ahead of Bonds Auction South African rand weakened marginally on Tuesday…
The naira appreciated to N1,349 to the US dollar at the Nigerian foreign exchange market (NFEM) as the local currency extended its rally on Monday.
The naira extends its year-to-date rally, supported by sufficient foreign-currency liquidity in the official window, according to trading data from the Central Bank of Nigeria (CBN).