The Nigerian naira eased to its lowest in a week against the U.S dollar on the interbank market on renewed demand for the greenback and despite large forex sales by a unit of Royal Dutch Shell. The local currency fell to 161.30 to the dollar on the interbank, erasing recent […]
Tag: Interbank Market
Nigeria’s Naira Snaps Three Days of Advances as Crude Declines
By Chris Kay/ Bloomberg The naira weakened, snapping three days of gains against the dollar as crude, Nigeria’s key export, retreated in New York and London. The currency of Africa’s biggest oil producer depreciated 0.1 percent to 160.84 per dollar as of 2:57 p.m. on the interbank market in Lagos, […]
Nigerian naira steadies, further gains expected
The Nigerian naira was flat against the U.S dollar on the interbank market and firmed marginally at the central bank’s bi-weekly auction on Monday with traders expecting the local currency to build on recent gains later this week. The naira traded at 160.90 naira to the dollar in thin trade […]
