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Topic

Nigerian naira

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

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

Updated 11 Mar, 2021 10:01pm
  • 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.
Nigeria naira hits record intra-day low of 429.75 per dollar

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

Published 24 Feb, 2021 07:27pm
  • 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.
Nigerian naira eases 1.75pc on spot market to 410.50 per dollar

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

Published 12 Feb, 2021 06:05pm
  • 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.
Nigeria naira eases on black market as FX demand pressure resurfaces

Nigeria naira eases on black market as FX demand pressure resurfaces

Published 13 Nov, 2020 07:52pm
  • 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.
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