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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 US dollar climbed to its highest level in a year on Thursday after the Federal Reserve
The South African rand dipped against Western currencies following a spike in the headline inflation rate to 4.5%
The naira fell against the US dollar to N1360 at the official window as FX liquidity has declined sharply
South African local currency unit, the rand, strengthened against crosses – the US dollar, the European
Nigeria’s gross foreign reserves surged near $51 billion, driven by significant inflows….
The Naira slid against the US dollar at the Nigeria Foreign Exchange Market (NFEM) on Tuesday amidst a significant spike