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FX Market
The Nigerian naira closed relatively flat at N1,328 per US dollar in the foreign exchange market
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.
The Nigerian naira declined across foreign currency markets due to surging demand for the US dollar, the Euro and the Sterling. Daily FX data released by the Central Bank of Nigeria (CBN) showed that the local currency closed the trading session at ₦1,375.4073 per US dollar, up from ₦ 1,374.9172 the previous day.
The naira recorded a market-wide rally as Nigeria’s economy expanded in the first quarter of 2026, according to the statistics office, with FX data showing the dollar retreated on Middle East hope.
The South African rand (ZARUSD) rose to R16.4 per US dollar on Friday, hovering near its highest level since mid-May. The local unit saw a last-minute rally after a sharp fluctuation against crosses this week.
Naira Drops to N1,375/$ as Interbank FX Turnover Crashes Increased demand for the US dollar…
South African rand (ZAR) trades soft against the US dollar, Euro, and British pound on Friday as the gold rally eases amid US-Iran peace deal negotiations.