* Reliance on dollar-based oil makes naira hard to gauge * Dwindling reserves reduce room to defend naira * Devaluation possible, not a one-way bet -analysts “What is a cynic?” asks Cecil Graham in the Oscar Wilde play “Lady Windermere’s Fan”. “A man who knows the price of everything and […]
Tag: Dollar
Naira may weaken to N170 – Merrill Lynch
A report by the Bank of America Merrill Lynch Global Research has predicted that the naira may weaken for the current levels of over N160 to N170. The report noted that although the Central Bank of Nigeria had the political will to defend the naira, the dwindling amount in the […]
Nigerian markets stabilise, offshore investors on sidelines
The Nigerian naira fell 0.5 percent on Monday while yields on government debt were broadly stable, as offshore investors remained on the sidelines even as dealers said turbulence at the central bank had largely been priced in locally. The local currency has been under heavy selling pressure since President Goodluck […]
