- Ethereum Tumbles as Rising Fed Rate Hike Odds Trigger Crypto Selloff
- African Currencies Mixed as Dollar Posts Strongest Week Since October
- Cardano Lost 8% as Hoskinson Says He Never Promised Price Gains
- Pi Network Loses 12% as Top Cryptocurrencies Tumble
- Fitch Affirms Namibia at ‘BB-’ with Stable Outlook
- XRP Plunges by 10% to $0.9146 on Aggressive Selloffs
- ICPC to Publish Recovered Assets, Owners, Status
- Nigerian Exchange Surges by N2.2trn to N163.80trn, Return Tops 62%
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 against the US dollar at the official window as pressures from rising international payments eclipsed FX liquidity in the currency market.
The naira dipped against the US dollar at the official window, as data published by the Central Bank of Nigeria (CBN) showed a slump.
Naira Sees 1.13% Weekly Gain on FX Liquidity, Interventions The Nigerian local currency, the naira,…
The Naira closed the trading session in the positive territory at the Nigerian Foreign Exchange Market (NFEM), appreciating by 11bps or ₦1.44 against the U.S. Dollar.
The naira traded stable at the Nigerian foreign exchange market (NFEM) on Wednesday, closing the session at N1343 per dollar, according to the Central Bank’s daily FX publication.
The Nigerian local currency, the naira, gained against the US dollar at the official foreign exchange market amid a surge in FX liquidity.