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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.
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.