U.S. Dollar Gains Against Major Currencies As Naira Slumps in Friday’s Forex Trading – May 10, 2024


In the foreign exchange market at 4:30 PM GMT+1 on Friday, May 10, 2024, the U.S. dollar showed varied performances against major currencies, showcasing fluctuations compared to the previous trading session.

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Here’s an overview of the U.S. dollar’s performance against key currencies:

– EURUSD: The U.S. dollar slightly weakened against the Euro, trading at 1.0766, marking a decline of 0.14% from the prior session.

– GBPUSD: Against the British Pound, the U.S. dollar also experienced a weakening trend, with the exchange rate at 1.2508, showing a decrease of 0.13%.

– USDCHF: Conversely, the U.S. dollar exhibited strength against the Swiss Franc, reaching 0.9081, indicating a rise of 0.25%.

– USDRUB: The U.S. dollar strengthened against the Russian Ruble, reaching 92.3070, up by 0.39%.

– USDNGN: Notably, the U.S. dollar continued its significant strengthening trend against the Nigerian Naira, reaching 1424.9000, up by 0.38%.

– USDZAR: Against the South African Rand, the U.S. dollar saw marginal gains, standing at 18.4723, with an increase of 0.03%.

– USDEGP: Stability prevailed as the U.S. dollar maintained its exchange rate against the Egyptian Pound at 47.4029.

– USDCAD: There was a slight weakening of the U.S. dollar against the Canadian Dollar, with the exchange rate at 1.37, down by 0.04%.

– USDMXN: The U.S. dollar weakened against the Mexican Peso, reaching 16.76, down by 0.16%.

– USDBRL: Against the Brazilian Real, the U.S. dollar strengthened, reaching 5.15, marking a rise of 0.13%.

– AUDUSD: The U.S. dollar weakened against the Australian Dollar, trading at 0.6597, down by 0.31%.

– NZDUSD: Against the New Zealand Dollar, the U.S. dollar weakened to 0.6010, marking a decline of 0.42%.

– USDJPY: The U.S. dollar strengthened against the Japanese Yen, reaching 155.8250, up by 0.28%.

– USDCNY: Against the Chinese Yuan, the U.S. dollar strengthened, trading at 7.2319, up by 0.15%.

– USDINR: The U.S. dollar exhibited slight strengthening against the Indian Rupee, reaching 83.5444, up by 0.10%.

These fluctuations depict the dynamic nature of the forex market, influenced by a myriad of economic and geopolitical factors that impact currency values.

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Godwin Okafor
Godwin Okaforhttps://naija247news.com
Godwin Okafor is a veteran Financial Journalist, Internet Social Entrepreneur, and the visionary Founder of Naija247news Media Limited. With an extensive career spanning over 16 years in financial journalism, Godwin possesses a wealth of experience that seamlessly bridges both traditional and digital media landscapes. His journey in journalism commenced at Business Day, Nigeria, where he laid the foundation for his prolific career. In 2010, Godwin took a bold step by founding Naija247news Media, a platform that has since become a prominent player in delivering timely and accurate news. Educationally, Godwin Okafor holds a Bachelor's degree in Industrial Relations and Personnel Management from the prestigious Lagos State University, Ojo, Lagos. His commitment to continuous learning led him to the Lagos Business School, where he further honed his skills. Additionally, he is recognized as a Fellow of the University of Pennsylvania, having successfully completed the Wharton Seminar for Business Journalists. Throughout his illustrious career, Godwin has earned acclaim by winning numerous journalism awards, a testament to his dedication to excellence in reporting. Beyond his role as a Financial Journalist, Godwin Okafor wears the hat of the Chairman at Emmerich Resources Limited, the publishing entity behind Naija247news. His visionary leadership has played a pivotal role in shaping the media landscape and establishing Naija247news as a trusted source of information. Godwin Okafor's multifaceted expertise, commitment to journalistic integrity, and leadership in the realm of business journalism underscore his influential presence in both the media and entrepreneurial spheres.

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