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Nigeria’s Naira Strengthens as Oil Rises and Trade Worries Ease - BLOOMBERG

JUNE 10, 2025

Nigeria’s naira rose for a seventh day to a two-month high against the dollar on Tuesday amid higher oil prices and as investor concerns over US trade tariffs eased.

The unit gained 0.7% to 1,539 per dollar at 3:05 p.m. in Lagos, its strongest level since early April as oil prices rose to $67.50 per barrel and US-China trade talks in London entered a second day.

MARKET NEWS

June 12 Dollar keeps losing market share but euro slow to benefit: ECB study - REUTERS June 12 UK economy shrinks by 0.3% as as exports hit by Trump trade war - THE GUARDIAN UK June 12 Oil prices jumps 4% to 2-month high as tensions rise in Middle East - REUTERS June 12 Exclusive: Nigeria's $5 billion oil-backed loan from Aramco delayed by oil price drop... (read more) June 12 FX reforms fuel inflows to six-year high as naira, inflation stabilises June 12 OPS pushes for refinery sell-off after $2.4bn wobbly repairs - PUNCH June 12 FG to train 100,000 youths annually in forex trading - PUNCH June 12 At N1,539/$, naira gains as forex inflow hits $5.6bn in May - DAILY TRUST June 12 Naira depreciates to N1,610/$ in parallel market - VANGUARD June 11 World economy to suffer weakest growth since 1960s - THE TELEGRAPH June 10 World Bank sharply downgrades forecast for global economic growth to 2.3% - P.A.MEDIA June 10 Naira may stabilise around $1.034 and $1.066 in near term —Experts - NIGERIAN TRIBUNE June 10 Nigeria’s Naira Strengthens as Oil Rises and Trade Worries Ease - BLOOMBERG June 10 Brazil's central bank chief signals imminent bridge solution for real estate financing - REUTERS June 10 US dollar flat to slightly lower as traders await China talks outcome - REUTERS June 10 Sterling weakens as soft labour market data supports UK rate cut bets - REUTERS June 10 OPEC+ Quota Hikes Yet to Deliver Oil Surge, Morgan Stanley Says - BLOOMBERG June 10 Sterling rises against a weaker dollar ahead of UK's spending plan - REUTERS June 10 Oil prices hit multi-week highs amid US-China trade talks - REUTERS June 10 Ghana endorses Morocco's autonomy plan for Western Sahara - REUTERS June 10 Nigeria ranks 3rd among Africa’s top 10 manufacturing countries - VANGUARD June 10 Nigeria's dog owners hit with surging pet food prices amid cost of living crisis - REUTERS June 10 Nigeria Ranks 5th Among African Countries Most Indebted To China - NEW TELEGRAPH June 10 Nigeria loses $4m in World Bank funding over audit failures at key agencies - BUSINESS INSIDER June 10 Nigeria ranks 3rd among Africa’s top 10 manufacturing countries - VANGUARD June 10 Oil Edges Up as Traders Await Outcome of US-China Trade Talks - BLOOMBERG June 10 Naira to stabilise at N1,600–N1,650/$ – Rewane - PUNCH June 10 Naira may stabilise around N1,600 and N1,650 in near term —Experts - NIGERIAN TRIBUNE June 10 Morgan Stanley, Goldman See Resilient Economy Supporting Stocks - BLOOMBERG June 10 ECB close to being done with rate cuts, Kazimir says - REUTERS
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