- GCR Upgrades Wema Bank Plc’s Issuer Rating to A/A1
- SSA Sovereigns Face Iran Shock from Stronger Starting Point -Fitch
- Crude Oil Prices Ease on US-Iran Peace Dividend
- CBN Mandates Banks, Fintechs to Host Payment Data Locally
- Overnight Rate Climbs as Financial System Liquidity Declines
- XRP Gains as Ripple RLUSD Stablecoin Lists on Gate.io
- Bitcoin Rises on Morgan Stanley’s Sky-High Target Price
- SOLUSD Climbs 5% as bitFlyer Set to List Solana in Japan
FX Market
The naira rose against the US dollar in the Central Bank of Nigeria (CBN) foreign exchange
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.
The South African Rand weakened across the board, trading lower against the US dollar, the Euro and the British pound, on Tuesday as gold, the country’s major export earner, came under pressure.
The dollar index slipped below 98.5 on Monday after briefly rising to 99.3 earlier in the session as demand slowed sharply. The markets reacted to reports that Iran had submitted a new proposal to the US aimed at reopening the Strait of Hormuz and easing tensions.
The euro (EURUSD) climbed to $1.17 on Monday as the US dollar rally slowed amid a new proposal from Iran that could end the Middle East war, while markets awaited economic data releases.
The British pound stabilised above $1.35, recovering from a two-week low, as investors prepare for a week filled with significant economic data and global interest rate decisions while also monitoring US-Iran peace talks.