Nigeria’s central bank intervened with dollar sales to lift the naira on Wednesday but strong demand for the U.S. dollar outweighed the move. Dealers said uncertainty about monetary policy following the suspension of central bank governor Lamido Sanusi last week and reduction in foreign portfolio flows continued to weigh on […]
Author: InvestAdvocate
Nigeria’s FX reserves fall sharply in year-to-date
Nigeria’s forex reserves fell to $40.68 billion as of Feb. 24, down 13.8 percent year-on-year, central bank figures showed on Wednesday. Africa’s top oil exporter’s reserves stood at $47.18 billion a year earlier. They have fallen 6.5 percent this year. Nigeria’s central bank has been burning its forex reserves in […]
Ghana Growth Projected to Drop 5½ Percent-IMF
To Check Short-Term Vulnerabilities By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-The international monetary fund (IMF) Wednesday said Ghana’s economy slowed down and growth rate is estimated to drop to 5½ percent—well below the levels of recent years. The IMF said the slow in growth of Ghana’s economy is as a […]
