Nigeria: Market Update – Naira Falls to N281.85/$ As CBN Clears U.S.$4.02 Backlog

As the Central Bank of Nigeria lifted the peg on the naira, the local currency depreciated to N281.85 to the dollar on the Nigeria Interbank Foreign Exchange (NIFEX) market on Monday, with the central bank conducting Special Secondary Market Intervention Sales (SMIS) to clear the backlog of $4.02 billion pent-up demand for FX. According to the…

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ACTUALITÉ AFRICAINE À TOUTE HEURE

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