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Nigeria naira weakens on falling oil prices, lower bond yields

By News Express on 09/08/2019

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Nigerian naira weakened to 364 per dollar on Friday, from a quote of 363.50 its previous day as falling oil prices worsened liquidity woes on the currency market, traders said.

The dollar shortage was initially caused by a slowdown of foreign inflows after local debt market yields declined.

The naira broke through a resistance level of 363 it has been quoted at since this week as the liquidity pressure worsened, traders said.  (Reuters)

Source News Express

Posted 09/08/2019 6:35:27 PM

 

 

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