The Nigerian naira reached the lowest in more than a month as investors were said to slow purchases of Nigerian bonds after oil prices weakened and output in Africa’s top crude producer missed a forecast.
The currency of the continent’s most populous country depreciated 0.3 percent to 159.35 per US dollar by 12:18 p.m. in Lagos, the commercial capital, the lowest on an intraday basis since March 18. The naira has retreated 2 percent this year and is set for a third weekly decline,
No comments:
Post a Comment