The naira has fallen again against the dollar, this time to an all time low. The new exchange rate will surprise you.
On Wednesday, a day after the Central Bank of Nigeria’s Monetary Policy Committee hiked interest rates to lure foreign investors back into local assets, the naira fell against the dollar at the interbank foreign exchange market to an all-time low of 334.50.
Reuters reports that the naira had closed at 310 against the interbank market on Tuesday. About $10m was […]