07/11/2014
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.Read moreimg src=http://feeds.feedburner.com/~r/ft/beyond-brics/~4/8-rh_OFzGnk height=1 width=1/ (© The Financial Times Limited 2014)...
