The naira reached the lowest level in more than a month as investors slowed purchases of Nigerian bonds after oil prices weakened and output missed a forecast. The currency depreciated 0.3 per cent to N159.35 per dollar in Lagos, the lowest on an intra-day basis since March 18. The naira […]
Tag: Dollar
Euro steady versus dollar but bets rise for an ECB rate cut
The euro had fallen after a survey by Germany’s Ifo think-tank showed business sentiment dropped for a second month in April, fuelling concerns about the health of the euro zone’s largest economy. The euro was already vulnerable after German PMI data on Tuesday showed business activity dropping sharply in April. […]
Naira Falls to 5-Week Low on Oil-Imports Demand, Fewer Dollars
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 […]
