Nigeria's leading finance and market intelligence news report.

Early calm returns to Nigeria’s FX market

…as CBN doubles down on naira peg

The naira strengthened against the dollar across Nigeria’s multiple foreign exchange markets Friday after the Central Bank signalled a day before that it was prepared to keep the exchange rate stable against all odds. To keep the naira stable, the CBN must contend with the impact of the coronavirus outbreak on crude oil demand, the…

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