The Nigerian naira weakened further on Wednesday on the back of strong demand for the dollar even as the central bank pledged that it had no plans to devalue the local currency. The naira fell to 163.6 to the dollar on the interbank compared with 162.95 a dollar the previous […]
Tag: Naira
Nigeria central bank to buck pressure to devalue naira
* Governor Sanusi to leave central bank in 10 months * National elections in 2015 may hurt naira (Adds comments from deputy central bank governor) Nigeria’s central bank will resist pressure to devalue the naira since it retains ample funds to defend the currency, a central bank spokesman said, and […]
Naira Hits Year Low as Market Waits on Central Bank: Lagos Mover
Nigeria’s naira retreated for a third day, set for its lowest closing level in more than a year, in the absence of central bank intervention and foreign-exchange sales from oil companies. The currency of Africa’s biggest crude producer declined 0.7 percent to 163.35 per dollar as of 2:24 p.m. in […]
