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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.
Naira Opens Weak, Nigeria’s FX Reserves Signal Uptrend The Nigerian naira opened weak on Monday…
The US dollar climbed to its highest level in about a month on surging demand for safe havens as concerns over war-driven inflation intensified.
The South African rand or ZAR has weakened against major currencies, trading at R16.56 per U.S. dollar (USD), R19.29 per euro (EUR), and R22.11 per British pound (GBP), First National Bank said in a note on Friday.
Naira Slips as Interbank FX Turnover Reduces at Official Window The naira, Nigeria’s local currency,…
The South African Rand strengthened moderately against major currencies, rebounding from a two-day losing streak, First National Bank (FNB) said in its morning brief on Thursday.
The naira regained value at the Nigerian foreign exchange market (NFEM) on Wednesday as improved hard currency liquidity reduced pressures from surging FX demand for international payments and settlements.