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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 Nigerian naira gained about N11.80 kobo per US dollar (USD) at the official window in April, closing at N1374.9431, according to daily FX publications released by the Apex Bank.
South African Rand Slips as Fed Keeps Rates, Oil Rises The South African rand slipped…
The naira rose against the US dollar at the Nigeria Foreign Exchange Market (NFEM) amidst a significant surge in interbank turnover, according to daily FX data published by the Central Bank.
Dollar Strength Could Unwind if Oil Prices Fall Back – Fitch The strengthening of the…
The naira dropped sharply against the US dollar at the Nigerian Foreign Exchange Market (NFEM) on Tuesday as FX payments surged above liquidity.
The South African Rand weakened across the board, trading lower against the US dollar, the Euro and the British pound, on Tuesday as gold, the country’s major export earner, came under pressure.