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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 softened against the US dollar at the official FX window, with data showing a sharp decline in interbank turnover over the past 24 hours.
Naira Weakens as Nigeria’s Foreign Reserves Dip Below $52bn The Naira exchange rate weakened against…
The Nigerian naira hovered around N1362 per dollar at the official foreign exchange market …
The rand is trading firmer on Monday as a softer US dollar and improving global risk sentiment
The naira gained value, rising by about N18.10 per US dollar in the official foreign exchange
South African Rand Weakens as Reserve Bank Holds Rates The South African rand trades weaker…