‘Nigeria central bank intervening on FX market to prop up naira ‘

The Nigerian central bank has been intervening on the currency market over the past two weeks to keep the naira stable as foreign investors book profits in the wake of lower yields on the debt market, a trader told Reuters.

The naira was quoted at 362.80 to the dollar on the currency market for investors, weaker than the around 361 level where it has traded for much of this year, said the dealer, who trades currency for the local unit of an international bank.  Reuters

Pix: CBN Governor, Godwin Emefiele