Nigeria’s naira retreated for the first time in five days as as demand for dollars increased before the central bank’s first foreign-exchange auction of the week. The currency of Africa’s biggest oil producer depreciated 0.1 percent to 157.60 per dollar as of 12:36 p.m. in Lagos, the commercial capital, its […]
Tag: Central Bank of Nigeria
Naira Rises to 4-Week High on Central Bank, Oil-Industry Dollars
Nigeria’s naira rose to the highest in almost four weeks as the central bank sold the U.S. currency at an auction and oil companies were also said to sell dollars. The currency of Africa’s biggest oil producer rose 0.3 percent to 158.10 per dollar by 4:10 p.m. in Lagos, the […]
Naira Advances to Week High as Central Bank Bolsters Reserves
The naira climbed the most in more than a week against the dollar on speculation that the central bank will continue to support the currency by dipping into its rising foreign reserves. The currency of Africa’s biggest oil producer advanced as much as 0.2 percent, before trading 0.1 percent stronger […]
