The Nigerian naira fell 0.5 percent on Monday while yields on government debt were broadly stable, as offshore investors remained on the sidelines even as dealers said turbulence at the central bank had largely been priced in locally. The local currency has been under heavy selling pressure since President Goodluck […]
Tag: Nigerian Naira
Naira Rebounds From Record Low After Central Bank Intervention
Nigeria’s naira rebounded from a record low against the dollar after the central bank of Africa’s second-largest economy said it intervened in the market and has enough reserves to keep defending the currency. “There is a great need to defend the currency because we don’t want volatility,” Central Bank of […]
Nigerian Naira Retreats Most in Two Weeks as Bank Sales Decline
Nigeria’s naira depreciated to the lowest in two weeks as investors demanded dollars after the central bank sold the least foreign currency at auctions in more than a month. The currency of Africa’s biggest oil producer retreated 0.2 percent to 158.40 per dollar by 2:51 p.m. in Lagos, Nigeria’s commercial […]
