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FX Market
The official exchange rate weakened to near N1,351 as the Naira continued to face selloffs, driven by rising demand for international payments, settlements of offshore liabilities, and offshore repatriations.
The Kenyan shilling (KES) gained strength against major crosses in the foreign exchange market last week, reflecting the absence of significant pressure on the local currency amidst growing diaspora remittances.
The Nigerian naira gained about N11.80 kobo per US dollar (USD) at the official window in April, closing at N1374.9431, according to daily FX publications released by the Apex Bank.
South African Rand Slips as Fed Keeps Rates, Oil Rises The South African rand slipped…
The naira rose against the US dollar at the Nigeria Foreign Exchange Market (NFEM) amidst a significant surge in interbank turnover, according to daily FX data published by the Central Bank.
Dollar Strength Could Unwind if Oil Prices Fall Back – Fitch The strengthening of the…
The naira dropped sharply against the US dollar at the Nigerian Foreign Exchange Market (NFEM) on Tuesday as FX payments surged above liquidity.