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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 local currency, the naira, rose against the US dollar (USD) at the official window on Thursday as the nation’s foreign reserves continue to move towards $52 billion.
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Naira Rises Against US Dollar as Interbank FX Trades Ease The naira appreciated against the…
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The naira tumbled at the Nigerian foreign exchange market (NFEM) on Tuesday, as official trading data…
The dollar index (DXY) fell more than 0.5% to around 100.7 on Tuesday after softer-than-expected US