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FX Market
South African rand (ZAR) trades strongly against the US dollar and other Western…
The South African rand is trading flat against crosses on Monday as a surprise US May jobs report fueled a broad dollar rally and crushed emerging-market currencies.
The naira softened against the US dollar as international payments outweighed FX liquidity at the Nigeria Foreign Exchange Market (NFEM) on Friday, according to an official report from the authority.
The naira mixed on Thursday, slipping against the US dollar (US$) at the Nigeria Foreign Exchange Market (NFEM) as international payments surpassed FX supply.
The naira climbed against the US dollar to 1,373 at the Nigerian Foreign Exchange Market (NFEM) at the close of the trading session on Friday.
The dollar index (DXY) hovered near 99.2 as investors assessed the latest developments in the Middle East and mixed signals over a possible US-Iran agreement that could end the war and reopen the Strait of Hormuz.
The South African rand (ZAR) depreciates against crosses such as the US dollar, Euro, and sterling on Thursday ahead of the Reserve Bank’s interest rate policy decision.