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FX Market
The Nigerian naira closed relatively flat at N1,328 per US dollar in the foreign exchange market
The Nigerian local currency, naira, climbed against the US dollar at the Nigerian foreign exchange market (NFEM) amid improved hard-currency liquidity.
The naira weakened further across the official and parallel markets on Tuesday. The local unit depreciated by 0.01% to ₦1,373.87 against the US dollar at the Nigerian foreign exchange market (NFEM) window as pressures persisted.
The naira depreciated against the US dollar on Monday at the Central Bank of Nigeria’s Foreign Exchange Market (NFEM) as FX inflow remained stiff.
The South African rand lost momentum against Western currencies on Monday amid a US dollar rally, surging global oil prices and an increase in the country’s unemployment Rate.
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.