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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 fell by N10 per US dollar in the Nigerian foreign exchange market (NFEM) on a week-on-week basis due to a liquidity shortfall.
The South African rand remained on edge amid hawkish expectations from the US Federal Reserve
The naira hovered around NGN1,380 per dollar at the Nigerian Foreign Exchange Market (NFEM) amidst a 56% surge in interbank FX turnover.
The South African rand is trading stable against the US dollar, Euro and sterling on Thursday
The Nigerian naira depreciated against the US dollar at the foreign exchange market …
The South African rand softened against crosses on Wednesday as a stronger US dollar.