| The Nigerian naira tumbled to a fresh record low on Monday, taking its losses against the dollar to 55 per cent during the past month and sharpening the pressure on policymakers in Africa’s largest economy to raise interest rates.
Nigeria’s central bank finally gave in to market pressure in the middle of last month to scrap the naira’s 16-month old currency peg, prompting a devaluation designed to restore investor confidence and haul the economy out of recession...............................................Full Article: Source
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