# African currencies weekly insight - Financial Afrik

> A weekly African currencies column reports that Morocco's central bank began buying surplus foreign currency from local banks to absorb a glut of remittance and tourism inflows. It also reports that the Nigerian naira has held steady at 570 per dollar after the central bank shut down a key unofficial-rate website. Nigeria raised $4 billion through a Eurobond sale.

- Date: 2021-09-26 · published 2021-09-26T12:00:00.000Z
- Category: market · region Africa · magnitude low
- Page: https://feedsoft.ai/events/45359-african-currencies-weekly-insight-financial-afrik
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

These are local FX market developments with little direct effect on global feed or grain prices. They matter mainly to African importers' hedging costs.

## Sources

- financialafrik.com: https://www.financialafrik.com/en/2021/09/26/african-currencies-weekly-insight/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.