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FX Market
The South African rand slid against major currencies as the World Bank reduced its estimate of the country’s 2026 gross domestic product (GDP) growth.
South African rand (ZAR) is little changed against the US dollar ahead of key economic data scheduled for release on Thursday. The local unit traded rangebound in yesterday’s session and is little changed this morning, First National Bank (FNB) said in a note.
The dollar comes under pressure on Wednesday amid a surge in U.S. inflation, buoyed by a global energy crisis. The US dollar index, which tracks the Greenback’s value against six major currencies, is down 0.1% to 99.8 on Wednesday as US inflation data surged to a three-year high.
British Pound Halts Swings Ahead of UK Data British Pound or Sterling stabilizes at $1.36…
The euro hovered around $1.1850 on Monday, staying close to a four-year peak above $1.20 reached in late January, supported by signals that the European Central Bank (ECB) is largely comfortable with the currency’s recent strength.
Naira Opens Strong, Markets Anticipate Stability The naira opened strong on Monday after a previous…
The naira declined against the US dollar as significant demand for foreign payments slowed the local currency momentum at the Nigerian foreign exchange market (NFEM).
The Nigerian naira exchange rate per dollar climbed to N1,348 at the official market amidst rising external reserves, and inflows from offshore investors with interest in elevated yields in the fixed income market.,
Naira ‘Swings Right’, Touches Intraday Low of N1,345 The naira swung right against the US…