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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 rand is trading firmer on Monday as a softer US dollar and improving global risk sentiment
The naira gained value, rising by about N18.10 per US dollar in the official foreign exchange
South African Rand Weakens as Reserve Bank Holds Rates The South African rand trades weaker…
The Nigerian naira extends momentum against the US dollar for the fourth day…
South African Rand (ZAR) firmed up on Thursday as markets price in a monetary policy rate …
The naira rose against the US dollar at the official window as interbank FX activities increased sharply, according to data released by the Central Bank of Nigeria (CBN).