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Nigerian naira

Kenyan currency seen firming, Zambia, Uganda's to soften
Markets

Kenyan currency seen firming, Zambia, Uganda's to soften

  • The Kenyan shilling is expected to edge up against the dollar next week, driven by dollar inflows from offshore investors into local government bonds.
  • The kwacha will likely continue trading under pressure against the dollar next week due to sustained demand for hard currency and scanty inflows.
Updated 11 Mar, 2021 10:01pm
Nigeria naira hits record intra-day low of 429.75 per dollar
Markets

Nigeria naira hits record intra-day low of 429.75 per dollar

  • The naira opened for trade at 409.50 on Wednesday, exchange data showed, near its weakest on record of 410.50 per dollar reached two weeks ago.
  • The naira has been quoted at 480 naira to the dollar on the black market since last month, against the official rate of 381 naira set in July and backed by the central bank.
Published 24 Feb, 2021 07:27pm
Nigerian naira eases 1.75pc on spot market to 410.50 per dollar
Markets

Nigerian naira eases 1.75pc on spot market to 410.50 per dollar

  • The naira, which has been weakening on the over-the-counter spot and derivatives markets, dropped to a low of 403.29 naira on Thursday after reaching record intra-day lows since January.
  • The central bank did not agree with the need for additional exchange rate adjustment.
Published 12 Feb, 2021 06:05pm
Nigeria naira eases on black market as FX demand pressure resurfaces
Markets

Nigeria naira eases on black market as FX demand pressure resurfaces

  • Traders had expected the currency to trade flat on the black market on the hopes that higher oil prices will boost Nigeria's foreign exchange supplies.
  • Oil prices fell on Friday, pressured by fears about a slow recovery in the global economy and fuel demand due to rising coronavirus infections.
Published 13 Nov, 2020 07:52pm