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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.
South African Rand Firms Up Slightly Ahead of Rate Decision The South African rand (ZAR)…
The naira gained against the US dollar at the Nigerian foreign exchange market (NFEM) amidst growing optimism about the nation’s expanding gross external reserves.
South African Rand Firmer as Risk Sentiment Improves The South African Rand (ZAR) is trading…
The naira experienced a soft rally that pushed the local currency value upward slight….
South African Rand Softens as Energy Crisis Stokes Inflation Concerns The South African rand is…
The Naira rallied, closing the trading week stronger on Friday, appreciating to N1,380.18 against the United States dollar at the official foreign exchange market.