Nigeria’s naira weakened a second day against the dollar as reduced demand for the West African nation’s bonds put pressure on the currency before a central bank meeting where the key rate will probably be maintained. The currency of Africa’s biggest oil producer fell as much as 0.1 percent […]
Tag: Naira
Naira Falls as Bond Investments Said to Ease, Inflation Rises
Nigeria’s naira declined after inflation accelerated and foreign investments into the country’s bond market eased, according to Standard Bank Group Ltd. The currency of Africa’s biggest oil producer retreated 0.1 percent to 158.85 per dollar by 12:32 p.m. in Lagos, the commercial capital, bringing its depreciation this year to 1.7 […]
Analysts predict weaker naira
The naira is set to remain on the back foot this week after hitting a seven-month low against the dollar on Thursday as offshore investors sell local debt. Kenya’s shilling is also expected to trade in a narrow band ahead of the outcome of a petition challenging the presidential election […]
