9 articles tagged with “Currency Markets”
The escalating US-Israel-Iran conflict is hitting African economies hard, with currencies weakening, oil prices surging, and regional stability threatened as Iranian forces deploy sea mines and drone boats in the Persian Gulf.
Nigeria's currency shows signs of stabilization despite short-term volatility, while the entry of new mobile service provider Lebara signals growing investor confidence in Africa's largest economy.
Constitutional constraints on American trade authority emerge as China's Xi Jinping consolidates economic leverage, marking a pivotal shift in global trade dynamics with implications for markets and bilateral relations.
The Nigerian naira closed at N1,348 per dollar on Friday, marking a week-on-week appreciation of N10, as the Central Bank of Nigeria implements a new $150,000 weekly allocation strategy for Bureau de Change operators to stabilize foreign exchange markets.
U.S. President Donald Trump launched a public attack on Supreme Court justices following the court's decision to nullify his sweeping global tariff policy, escalating constitutional tensions between the executive and judicial branches with potential implications for international trade and emerging market currencies.
US President Donald Trump announced sweeping 10% global tariffs hours after the Supreme Court ruled he lacked authority to impose blanket import duties under emergency legislation, escalating international trade tensions and triggering currency market volatility.
Nigeria's currency recorded gains against the euro while facing renewed depreciation pressures in the official market, as Bureau de Change operators report difficulties accessing the Central Bank's official foreign exchange window despite external reserves reaching $48.5 billion.
Nigeria's currency weakened N3.25 at the official foreign exchange window while strengthening N25 in the parallel market to N1,340/$, as crude oil prices extended gains amid escalating US-Iran tensions.
Bureau De Change operators report inability to purchase dollars from commercial banks one week after Central Bank of Nigeria announced new foreign exchange guidelines, despite parallel market naira appreciation to N1,385 per dollar.