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NIGERIA FX MARKET
Financial services accounted for $9.64 billion, representing 52.58% of Nigeria's total foreign exchange utilisation of $18.34 billion in the second quarter of 2026, as quarterly FX demand reached its highest level since Q3 2011.
A litmus test of the naira's stability will be in play when the Federal Reserve makes it interest rate decision on Wednesday which has currency traders take a position on the haven currency