- Ekiti State Gov. Oyebanji Congratulates Adeleke on Re-Election
- Botswana Inflation Declines to 9.4% in July 2026
- Tinubu Urges Nigerians in Diaspora to Invest in Domestic Economy
- Fitch Upgrades Congo’s Credit Rating, Cites Easing Refinancing Risks
- 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
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.
China’s Foreign Reserves Hit 10-Year High at $3.428trn China’s foreign exchange reserves totalled 3.4278 trillion…
The Central Bank of Nigeria (CBN) increased its intervention in the forex market during the week by injecting an $300 million to reduce the naira’s all-week negative fluctuations.
The naira depreciated across the foreign exchange market due to tight liquidity in the official and informal segments of the local currency market.
Naira fell against the US dollar for the 11th consecutive trading session on Wednesday, reflecting a lack of adequate foreign currency liquidity to meet international payments.
Euro Rises as Markets Price ECB Rate Cut The euro rose modestly to $1.165, partially…
British Pound Climbs Amidst Downgraded UK Growth Forecast The British pound or sterling has risen…