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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 Nigerian naira dropped slightly to N1368.2232 per US dollar at the official window during the last trading session on Friday, coincidentally the end of July, 2026.
South African rand firmer after US Federal Reserve decision to keep rates weakened the dollar amidst a slowdown in oil price movements in the global commodity market.
The naira softened slightly against the US dollar at the Nigerian foreign exchange market (NFEM), where the local currency closed at N1366.7278 on Thursday.
The Nigerian naira softened against the US dollar at the official FX window, with data showing a sharp decline in interbank turnover over the past 24 hours.
Naira Weakens as Nigeria’s Foreign Reserves Dip Below $52bn The Naira exchange rate weakened against…
The Nigerian naira hovered around N1362 per dollar at the official foreign exchange market …