Nigeria’s naira fell to a record low of 169 to the dollar before trading stopped on Thursday owing to volatility caused by the suspension of central bank governor Lamido Sanusi, several dealers said. Source: Reuters
Tag: Dollar
Naira Rebounds From Record Low After Central Bank Intervention
Nigeria’s naira rebounded from a record low against the dollar after the central bank of Africa’s second-largest economy said it intervened in the market and has enough reserves to keep defending the currency. “There is a great need to defend the currency because we don’t want volatility,” Central Bank of […]
Turkey Outlook Cut by S&P Citing ‘Hard Landing’ Risk
Turkey’s credit rating outlook was cut to negative from stable by Standard & Poor’s, which said there’s a growing risk of a “hard economic landing” as reserves decline and policy makers spar over interest rates. The move by S&P, the only one of the three main credit rating companies that […]
