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 […]
Tag: US Dollar
Naira Drops Most in Week as Central Bank Reduces Dollar Supply
Nigeria’s naira depreciated for a second day, heading for the biggest drop in a week, after the central bank reduced the amount of dollars sold at an auction today. The currency of Africa’s biggest oil producer weakened 0.3 percent, the most since Feb. 27 on a closing basis, to 158.05 […]
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 […]
