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- Nigeria FX demand hits $18 . 34bn as services surge
Nigeria's foreign exchange utilisation rose to $18.34bn in the second quarter of 2026, its highest level in nearly 15 years, according to the Financial Markets Dealers Association. Financial services accounted for $9.64bn, or 52.58%, of that demand, while invisible transactions made up 72.19% of total utilisation. Import-related demand fell 1.49% to $5.10bn, and autonomous FX inflows rose to $23.31bn, lifting net FX flows to $22.50bn, the highest since the fourth quarter of 2019. Meanwhile, direct central bank FX sales fell 66.73% to $418.08m, and the CBN sold just $1.67bn in the first half of 2026, its lowest half-year amount since 2008.
- Libya Dollar Tops 10 Dinars on Street Market
On Thursday 15 October, the US dollar sold for 10.30 dinars (about US$1) on Libya's street market, up from 9.98 dinars the day before, according to Al Wasat. The Central Bank of Libya's official selling rate that day was 6.4403 dinars, so the street price is about 60% higher. The central bank and the National Oil Corporation (NOC) gave conflicting oil revenue figures for the same day, US$361 million against about US$1.23 billion, and the NOC accused the bank of withholding approved budgets. No official has explained the one-day jump, and the central bank had announced no response by Thursday afternoon. A economist warned that inflation could erode a proposed 10% wage rise, while US Treasury and Federal Reserve officials have recently engaged with the central bank.
- Peso crosses 63 to $1 level
The Philippine peso closed at 63.06 to the dollar, weakening 19 centavos from the previous session to a fresh record low, below the prior record of 62.90 set on Oct. 8. The main driver was stronger US inflation, which raised expectations that the Federal Reserve would keep rates elevated for longer, lifting the dollar and US Treasury yields and reducing appetite for emerging-market currencies. Higher oil prices, geopolitical uncertainty, elevated domestic inflation and softer foreign reserves also weighed on the peso. A weaker peso raises the local cost of dollar-priced imports such as fuel, which could add to business expenses and consumer prices. Analysts expect the peso to stay volatile and tilted toward weakness, while markets await guidance from the Bangko Sentral ng Pilipinas (BSP) ahead of next week's policy meeting.
- Central bank mulls forex intervention after Taiwan dollar losses
Taiwan's central bank said it will step in to stabilize the foreign exchange market if the Taiwan dollar stays volatile after its sharp losses against the U.S. dollar last week. The currency fell NT$0.463 to close at NT$32.338 on Friday, its steepest weekly drop in more than a year. The Taiex fell 4.47% to 47,111.26 points, dragged by large-cap tech stocks amid concerns over U.S. inflation fueled by high oil prices and AI stock valuations. Foreign investors net sold US$19.40 billion in local shares and pulled US$17.96 billion out of Taiwan during the week. The bank said the currency remains stable over the longer term and will keep monitoring markets, intervening when necessary.
- Central bank mulls forex intervention after Taiwan dollar losses
Taiwan's central bank said it would step in to stabilize the foreign exchange market if the Taiwan dollar stays volatile after its sharp fall against the U.S. dollar last week. The currency fell NT$0.463 to close at NT$32.338 on Friday, its steepest weekly decline in more than a year. The Taiex dropped 2,202.18 points, or 4.47%, to 47,111.26, dragged down by large-cap tech stocks amid concerns about U.S. inflation, a more hawkish Federal Reserve and high valuations of AI stocks. Foreign investors net sold US$19.40 billion in local shares and pulled US$17.96 billion from Taiwan during the week, while the central bank noted the Taiex fell 5.4% versus a 15.7% drop in the Philadelphia Semiconductor Index and said the currency remained stable over the longer term.
- BSP profit more than doubles to P170 . 2 billion
The Bangko Sentral ng Pilipinas (BSP) posted net income of P170.2 billion in the first seven months of 2026, up 114.9 percent from the same period last year, according to preliminary, unaudited statements. That already exceeded its P124.6-billion earnings for all of 2025 by 36.6 percent. Most of the rise came from net foreign exchange gains, which nearly tripled to P102 billion and made up about 60 percent of net income. Total expenses fell 18.8 percent to P98.6 billion, mainly because interest expenses dropped 42.4 percent, while revenues edged up 1.9 percent to P166.8 billion, with interest income making up about 90 percent.
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- Asia FX steadies as oil surge weighs on risk appetite, yen holds gains
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