The naira fell the most in almost a week on demand for dollars to fund gasoline imports. The currency of Africa’s largest oil producer weakened 0.1 per cent, the most since January 23 on a closing basis, to N157.13 a dollar as of 3:42 p.m. in Lagos, the commercial capital, […]
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Naira strengthens as investors buy Nigerian debt
The naira strengthened, paring a weekly loss, as foreign investors brought dollars into the country to buy Nigerian debt after sales this week. The currency of Africa’s biggest oil producer gained 0.2 per cent at N157.2 against the dollar in Lagos, the commercial capital. The naira has depreciated less than […]
Bank of America begins moving $50 billion of derivatives to UK: FT
Bank of America (BAC) has begun moving $50 billion of derivatives out of its Irish-based operations into its British subsidiary, The Financial Times reported on its website on Sunday, citing people close to the operation. The move will allow the world’s number 10 bank by assets to benefit from tax […]
