Markets

Nigerian naira eases to new low in 1-month forward contracts

Published June 20, 2016 Updated June 20, 2016 11:59am

1 min

By Shoaib Ur Rehman

Add BRecorder as a trusted
source on Google

LAGOS: Nigeria's naira eased against the dollar in non-deliverable forward markets on Monday, with one-month contracts hitting a fresh low after Africa's biggest economy floated its currency, ThomsonReuters data showed.

One-month non-deliverable forwards showed the naira weakening to 317 per dollar, while the two-month contract traded at 322 per dollar - matching a record it hit on Friday.

Read Comments