Nigeria’s naira depreciated for a third day, heading for the lowest in two weeks as oil, the nation’s key export, retreated and prompted a slide in the external reserves of Africa’s biggest oil producer. The currency of sub-Saharan Africa’s second-biggest economy slid 0.1 percent to 158.10 per dollar by 11:31 […]
Tag: Nigerian Naira
Nigerian Naira Heads for 2-Week High on Oil Industry Supply Bets
The naira gained for a third day and headed for its strongest in more than two weeks on speculation that Nigerian oil producers will sell dollars to meet month-end expenses before a currency auction today. The currency of Africa’s second-biggest economy rose less than 0.1 percent to 158.15 per dollar […]
Nigeria’s Naira Snaps Two-Day Decline on Investor Inflows
Nigeria’s naira appreciated for the first time in three days after the central bank increased sales of Treasury bills at an auction. The currency of Africa’s biggest oil producer gained 0.2 percent to 157.70 per dollar as of 3:50 p.m. in Lagos, the commercial capital, according to data compiled by […]
