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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.
Naira Slips as Interbank FX Turnover Reduces at Official Window The naira, Nigeria’s local currency,…
The South African Rand strengthened moderately against major currencies, rebounding from a two-day losing streak, First National Bank (FNB) said in its morning brief on Thursday.
The naira regained value at the Nigerian foreign exchange market (NFEM) on Wednesday as improved hard currency liquidity reduced pressures from surging FX demand for international payments and settlements.
The Nigerian naira dived across Nigerian foreign exchange markets against the US dollar, reflecting increased demand for offshore payments and other settlements.
The naira drifted against the US dollar at the official window on Friday, reflecting a momentary shift in foreign currency liquidity amid a surge in demand.
South African Rand momentum eased against Western currencies as US-Iran clashes reverse market optimism. The United States and Iran exchanged fire on Thursday in the most serious test yet of their month-long ceasefire, but Iran said the situation returned to normal.