Tag: Interbank market

Naira Seen Tumbling, Weakens To 254 To The Dollar As Free Float Begins

Pent-up demand for dollars may push Nigeria’s naira at least 20 percent weaker when the central bank allows the currency of Africa’s biggest economy to float freely on Monday morning, said analysts including Renaissance Capital Ltd. and the head of Ecobank Transnational Inc. Bloomberg reports that the Demand for foreign[Read More…]