The Naira weakened slightly on Thursday, trading at 1,379.50 to the US Dollar, according to data from the Nigerian Foreign Exchange Market (NFEM). The currency opened marginally lower at 1,378.98, with early trading activity remaining subdued. The intraday high reached 1,380.00 before settling at the current rate.
Global currency markets are being shaped by geopolitical uncertainty, particularly in the Middle East. A fragile ceasefire between the United States and Iran appears under strain, with Israel continuing military operations against Iran-aligned Hezbollah in Lebanon. Tehran has accused both Israel and the US of violating the agreement, calling further peace talks “unreasonable.” The Strait of Hormuz remains closed to vessels without permits, with shippers halting transit, pushing oil prices higher.
US President Donald Trump has maintained military readiness in and around Iran until full compliance with the ceasefire is achieved. The dollar index held steady at 99.07, while the euro dipped 0.01% to $1.1661 and sterling edged 0.01% higher to $1.3393. The Japanese yen retreated 0.15% to 158.81 per dollar, reversing some of the previous day’s gains following the truce announcement.
Market analysts note that the US dollar has benefited from the conflict, partly because the US is a net energy exporter and less vulnerable to oil supply shocks than importers like Japan and many European nations. The five-week conflict has shaken investor confidence and triggered the largest recorded disruption to global oil and gas supplies.
The overnight indexed swap market is pricing in a 55% probability of an interest rate hike at the Bank of Japan’s upcoming meeting, according to data from Tokyo Tanshi. Analysts suggest strong US economic data could trigger a rebound in the dollar. The Australian dollar weakened 0.06% to $0.7039, while New Zealand’s kiwi strengthened 0.17% to $0.5832.
In cryptocurrency markets, Bitcoin fell 0.49% to $71,030.07, and Ethereum declined 1.06% to $2,186.50. The ongoing instability in the Middle East continues to influence both traditional and digital asset markets, with the dollar maintaining its position as a safe-haven currency amid global uncertainty.
![Burna Boy's mother turns prayer warrior after sons cuss words [VIDEO]](/wp-content/uploads/bb-plugin/cache/xBurna-Boys-Mother-Bose-Ogulu-Prays-Against-Sons-Profane-Claims-landscape-ece8d4f707bb276d213fd23f54fba2ac-.png.pagespeed.ic.2tRK5yLnae.jpg "burna boy’s mother bose ogulu prays against son’s profane claims")
