Nigerian stocks at 7-month high following central bank FX reforms

LAGOS: Nigerian stocks hit a seven-month high in mid-trades on Friday as domestic investors snapped up shares after the central bank's currency reforms.

The main share index rallied 2.33 percent to 29,152 points, lifted by gains in the consumer goods index, which is up 2.4 percent.

The central bank has said it will begin market-driven foreign currency trading on Monday, abandoning a 16-month peg against the dollar that has harmed investments and caused the economy to contract.