Nigeria’s naira gained for a second day, advancing to its strongest in a week as oil companies sold dollars to meet month-end local expenses. The currency of Africa’s biggest oil producer appreciated 0.4 percent to 157.35 per dollar, the strongest intraday level since Feb. 25, as of 11:21 a.m. in […]
Tag: Nigerian Naira
CBN Increases Dollar Supply by 46% on Strong Demand
The Central Bank of Nigeria (CBN) increased its supply of the United States dollar at its regulated Wholesale Dutch Auction System (WDAS) last week by 46 per cent as it offered a total of $350 million, compared with the $240 million offered the preceding week. This was as a result […]
Nigeria naira eases on dollar demand, liquidity
The Nigerian naira eased against the U.S. dollar on the interbank market on Monday, reflecting strong demand for the greenback from importers, traders said. The naira closed at 157.40 to the dollar, weaker than Friday’s close of 157.30 naira. At a foreign exchange auction on Monday, the central bank […]
