The naira declined for a fifth day, reaching its lowest in more than five weeks on increased demand for dollars by oil importers and as the central bank cut the amount of U.S. currency sold at today’s auction. The currency of Africa’s biggest oil producer weakened 0.1 percent to 158.83 […]
Tag: Central Bank
Deutsche Bank Upgrades U.S. Economic Outlook: ‘This Time Is Different’ Says Economist
The Federal Open Market Committee (FOMC) will release its latest statement and economic projections on Wednesday. Fed Chairman Bernanke and Fed Vice President Janet Yellen remain committed to the central bank’s current policies: near-zero short-term interest rates and a monthly $85 billion bond-buying stimulus program. Recent positive economic data – […]
Naira Drops Most in Week as Central Bank Reduces Dollar Supply
Nigeria’s naira depreciated for a second day, heading for the biggest drop in a week, after the central bank reduced the amount of dollars sold at an auction today. The currency of Africa’s biggest oil producer weakened 0.3 percent, the most since Feb. 27 on a closing basis, to 158.05 […]
