Nigeria’s naira strengthened against the U.S. dollar on the interbank market on Monday, supported by dollar sales by some local units of foreign banks selling to stay within their stipulated open position limits. The local currency closed at 157.90 to the dollar, the same level it was at last Wednesday […]
Tag: Nigerian Naira
Nigerian naira firms as funds, banks sell dollars
Nigeria’s naira firmed against the U.S. dollar on the interbank on Wednesday, with large inflows from foreign investors buying short-tenored bonds and as banks sell the greenback to stay within a stipulated open position for them. The unit firmed to closed at 157.90 naira to the dollar, recovering from an […]
Nigeria ratings agency upgrades banks on stable outlook
Nigeria’s main ratings agency Agusto & Co. upgraded the country’s banking sector on Thursday by one notch to Bbb from Bb, with a stable outlook, citing improved earnings and capital ratios. In a ratings report on Nigerian banks, the agency said credit growth was gradually returning and risk aversion waning […]
