The naira settled at N1,455/$ at the Nigerian foreign exchange market, continuing the positive rally of the Nigerian currency against the American dollar.
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The naira oscillated near its 2025 lows amid renewed appetite for the greenback, while the U.S. dollar index...
The Nigerian currency hit a multi-weekly low this week, demonstrating that CBN’s intervention and attractive fixed-income yields have not stopped the naira's decline.
The Naira lost more than N100 against the U.S. dollar at the official window, despite a slower headline inflation rate in August.
The haven currency posted mild losses in London’s trading session as renewed concerns over the U.S. economy’s growth outlook weakened its bullish run, while the naira oscillated near the N1650/$ support level.
The naira traded at its lowest in the official market despite the U.S. dollar index falling to a three-week low ahead of U.S. jobs data.
The Nigerian local currency is running out of time, and the U.S. dollar index is hovering around two-month lows as markets await significant additional indicators of when the Federal Reserve will lower interest rates and consult inflation data.
At press time, the U.S. dollar index, which tracks the U.S dollar strength against major currencies dropped by 0.12% to trade at 90.945 points.
The U.S dollar index is on track for a 0.5% weekly gain following record-buying at the start of the week
The U.S. Dollar Index which tracks the greenback against a basket of major currencies inched up 0.05% to 90.4020.
U.S. Dollar Index traded at 90.427 points hitting its lowest level since April 2018,
