The South African rand traded relatively stable against the US dollar, euro, and British pound as investors continue to assess developments surrounding the reopening of the Strait of Hormuz while digesting softer US inflation data.

The Nigerian naira extended its momentum against the US dollar in the official foreign exchange market, driven by robust FX liquidity and easing demand for international payments. 

The Central Bank of Nigeria (CBN) turned down more than N2.4 trillion in investors’ money as total subscription at the open market operation topped N4.6 trillion, according to auction results reviewed by MarketForces Africa.

The Nigerian Exchange (NGX) key performance indicators headed south on Thursday, with selloffs in consumer goods and insurance names leading the decliners.

Ripple (XRP) price capped at $1 as the token stopped reacting to market moves after a 0.90% decline in 24 hours. Sellers appear tired of selling, and buyers are searching for catalysts to drive the next uptrend.

NAICOM Confirms 7 Additional Insurance Companies for Recapitalisation The National Insurance Commission (NAICOM) says seven additional insurance companies have been…

Iran: No Progress on Deal with U.S. to Reopen Strait of Hormuz Iran says efforts to revive its interim peace…

Oil prices edged lower Thursday as a sharp rise in US crude inventories and higher global…

The European and US equity markets diverged as a softer-than-expected consumer price index print shaped investors’ sentiment across the global indices.

SEC Sets 5 p.m. T+1 Settlement Deadline The Securities and Exchange Commission (SEC) has fixed 5:00 p.m. on the first…