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: US Dollar
Naira Strengthens as Central Bank Sells Most Dollars in 9 Months
The naira reached the highest in more than five weeks after the Central Bank of Nigeria sold the most dollars in nine months at auctions this week. The currency of Africa’s biggest crude producer gained for the first time this week, adding 0.2 percent to 157.40 per dollar by 3:06 […]
Naira Rises to 4-Week High on Central Bank, Oil-Industry Dollars
Nigeria’s naira rose to the highest in almost four weeks as the central bank sold the U.S. currency at an auction and oil companies were also said to sell dollars. The currency of Africa’s biggest oil producer rose 0.3 percent to 158.10 per dollar by 4:10 p.m. in Lagos, the […]
