Naira Bruise Deepens, USD Scarcity Unsettles FX Markets The Nigerian naira depreciated further on Friday with depressed exchange rate outlook. The future of the local currency appears bleak following sub-par FX market intervention. The central bank maintained no support for the local currency despite surging demand for foreign currency in the market. Last week, the […]

Naira Loses Steam over Pressing FX Illiquidity With sustained negative swings, the Nigerian naira plunged further in the foreign exchange market as demand for US dollars and other foreign currencies outweighed the supply side. The local currency has been returned to the old story line of persistent falling in the value of the local currency, […]