- XRP Capped on Weak Buying Conviction, Trades 65% Below Target Price
- Nigerian Naira Gains 7% Against Euro Year-to-Date in FX Market
- Nigeria’s Headline Inflation Rate for July Estimated to Ease
- NGX Return Dips to 56% Over Selloffs in BUA, Dangote, Unilever
- BRICS Explores Integration of Instant Payment Systems, Digital Currencies
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- AVA Capital: Investors in Search for Next Catalyst as Momentum Fades
- XRP Holds Position as Bank of Montreal Discloses Interest
FX Market
The naira exchange rate to the European single currency, the Euro, extended its year-to-date gain to about 7%,
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.
Naira Depreciates as Interbank Deals Sink on FX Shortage The naira maintained a downtrend against…
Boosted by rising demand, the US dollar rallied against its trading pairs to its highest positions in about a year, supported by geopolitical tensions and shifting rate expectations.
Naira Falls at Informal FX Segment over Dollar Shortage The naira weakened against the US…
Official, Parallel Markets FX Gap Widens as Naira Swings The naira exchange rate gap between…
A significant surge in US dollar demand at the Nigerian foreign exchange market (NFEM) led to a sharp decline in the naira’s value on Monday, according to daily FX data published by the Central Bank.
Naira bulls at the Brroastreet have maintained a positive outlook on the exchange rate amidst geopolitical dislocation that has pushed oil prices above $110 on Monday.