19.11.2014 - Nigeria’s naira drops to record low

Nigeria’s naira weakened to a record low against the dollar as promises by the central bank to defend the currency and government plans to cut spending failed to stabilise the market hit by a fall in oil prices. There is “still no reprieve for the naira despite the positive local developments at the start of the week,” Gareth Brickman and Catherine Bennett, Johannesburg-based strategists at ETM Analytics, said..........................................Full Article: Source

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