6 results for “Dollar”
The official NFEM rate firmed to N1,331.61 to the dollar while street quotes sat around N1,375 to N1,390, leaving a spread that has compressed sharply as reserves climb and central bank FX sales stay low.
The dollar index held near 102.07 and headed for its first weekly decline since mid-September as the 10-year Treasury yield fell about 15 basis points and the euro recovered from a 17-month low.
Spot gold rose about 0.4 per cent to near $4,187 an ounce, helped by a softer dollar and a sharp fall in Treasury yields, even as hot US producer prices kept Fed rate-hike bets alive and capped the metal near $4,235.
The three-year yield dropped 23 basis points to 6.45 per cent and the ten-year fell four basis points to 7.93 per cent as a record one-day rally in US Treasuries and a softer dollar lifted Nigerian dollar debt, with a $1.5 billion bond due in November 2027 in focus.
Banks, fintechs and insurers are now the biggest source of dollar demand, underscoring how Nigeria's FX market is being reshaped by a deeper financial system.
The naira held broadly steady around N1,370 to the dollar as stronger reserves, tighter policy and returning portfolio inflows kept the currency within a narrow range.