Nigeria’s $500 million Eurobond yields rallied for the first time in five days after a forecast that the country’s economic growth will accelerate this year and as foreign-exchange reserves increased. THISDAY checks showed that the naira was also stable at the Wholesale Dutch Auction System (WDAS) Monday as it maintained […]
Tag: Naira
Naira Snaps Two-Day Drop as Foreign-Currency Reserves Increase
The naira gained for the first time in three days after data from the Central Bank of Nigeria showed the country’s foreign-currency reserves increased. The currency of Africa’s biggest oil producer rallied as much as 0.3 percent, the most since Jan. 25, as the nation’s foreign-exchange reserves advanced to $46.15 […]
Naira drops further as CBN cuts dollar supply
The naira dropped the most in two weeks after the Central Bank of Nigeria reduced dollar supply at its bi-weekly auction on Wednesday. The currency of Africa’s largest oil producer weakened by 0.3 per cent to N157.38 a dollar as of 3pm in Lagos, the most on a closing basis […]
