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FX Market
The naira closed at N1,353.9741 per US dollar in Nigeria’s foreign exchange market on Friday, appreciating from the previous quote of N1,355.8855 as international payment pressures eased.
The naira depreciated strongly against the US dollar in the Nigerian foreign exchange market (NFEM) on Wednesday as pressure on the local currency deepened.
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 naira slid by ₦1.30 to ₦1,363.85 at the Nigerian foreign exchange market …
The rand is firmer against crosses, including the dollar (USD), the Euro (EUR) , and the British pound (GBP),
The Nigerian naira firmed to ₦1,362.5543 per US dollar at the official window on Tuesday, as forex supply eclipsed international payment requests.
South African rand weakened against crosses in the forex market on Tuesday as global market dynamics continue to favour the dominant currency, the US dollar.
The naira rose against the US dollar at the Nigerian Foreign Exchange Market (NFEM) amidst a 132% surge in forex market turnover, reflecting increased trading activities at the official window.
The naira gained about 4.7% in the last seven months, supported by the Central Bank of Nigeria….