Browsing: FX Market
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.
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British Pound Climbs Amidst Downgraded UK Growth Forecast The British pound or sterling has risen to $1.3380, effectively recovering from…
Naira Depreciates for 10-Day Straight, FX Gap Narrows The Nigerian naira weakened against the US dollar for 10 consecutive days…
Naira Touched Intraday High of N1405/$ in FX Market The naira touched an intraday high of N1405 per dollar at…
The naira’s purchasing power dropped sharply at the official window as foreign payments initiated exceeded the US dollar liquidity at the currency market.
The flight-to-safety drive from Middle East tensions strengthened the US dollar against trading peers on Monday, forex traders said in a separate note.
The naira traded negatively against the dominant US dollar at the official window all week despite FX intervention sales by the Central Bank of Nigeria (CBN).
The Central Bank of Nigeria (CBN) has made another foreign exchange market intervention this week to address the ongoing depreciation of the naira.