| 10.11.2014 - Nigeria’s currency – calm now, devaluation later? |
| Nigeria’s central bank on Friday tried to drawn a line under the naira – but the market continues to increasingly bet on a devaluation after the elections set for early 2015. Currency traders said the Nigerian central bank intervened heavily on the foreign exchange a day after the naira plunged to an all-time law of ?170 to the dollar. After Friday’s intervention, the currency settled at ?165.75, down 2.5 per cent on the day...............................................Full Article: Source |