The naira reached its lowest in five weeks against the dollar as companies increased demand for the U.S. currency after the central bank sold less than the amount offered at an auction today. The currency of Africa’s biggest oil producer declined 0.2 percent to 158.95 per dollar by 3:10 p.m. […]
Tag: Naira
Polymer notes: Economists express divergent views
Economists have expressed divergent views on the decision by the Central Bank of Nigeria to withdraw polymer notes from circulation soon and replace them with paper notes. While some experts, who spoke to our correspondents in an interview on Tuesday, agreed with the decision, others blamed the CBN for performing […]
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 […]
