The naira depreciated to the lowest in almost a week as the Central Bank of Nigeria offered fewer dollars at an auction, offsetting its decision to hold the key lending rate at a record high to support the currency. The currency of Africa’s biggest oil producer fell 0.2 percent to […]
Tag: US Dollar
Naira Slips 2nd Day Before Nigerian Central Bank Rate Decision
Nigeria’s naira weakened a second day against the dollar as reduced demand for the West African nation’s bonds put pressure on the currency before a central bank meeting where the key rate will probably be maintained. The currency of Africa’s biggest oil producer fell as much as 0.1 percent […]
Analysts predict weaker naira
The naira is set to remain on the back foot this week after hitting a seven-month low against the dollar on Thursday as offshore investors sell local debt. Kenya’s shilling is also expected to trade in a narrow band ahead of the outcome of a petition challenging the presidential election […]
