Nigeria’s naira depreciated for a second day, heading for the biggest drop in a week, after the central bank reduced the amount of dollars sold at an auction today. The currency of Africa’s biggest oil producer weakened 0.3 percent, the most since Feb. 27 on a closing basis, to 158.05 […]
Tag: Naira
Demand Pressure Weakens Naira at Interbank Market
The naira depreciated further against the United States dollar at the interbank segment of the foreign exchange market yesterday as a result of strong demand for the greenback. THISDAY checks yesterday showed that the local currency slipped by 71 kobo to close at N158.10 to a dollar Thursday, compared to […]
Naira hits four-week high on dollar sales
The naira appreciated the most in four weeks as an oil producer was said to sell dollars to lenders, boosting supply, Bloomberg reported on Friday. The currency of Africa’s biggest oil producer climbed 0.2 per cent to N157.25 per dollar as of 12:57 p.m. in Lagos, the commercial capital. The […]
