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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 naira destiny has been successfully tied to hot money equation – high interest rate can only broing foreign capital
The naira exchange rate was little changed at the Nigerian foreign exchange market…
The naira strengthened against the US dollar across forex markets on Thursday ….
The South African rand gained momentum in the forex market, trading stronger against crosses
The Nigerian local currency, the naira, rallied at the official window as data showed a sharp….
South African rand traded slightly stronger in yesterday’s afternoon session but is facing mounting pressure