StanChart Gained and Lost Millions on Nigerian Naira’s Wild Ride – Bloomberg
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Americas+1 212 318 2000
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Asia Pacific+65 6212 1000
Standard Chartered Plc had a wild 2023 with Nigeria’s volatile currency as the African nation struggled with foreign-exchange rules to attract investment from overseas and boost the supply of dollars.
The London-based lender, in its corporate filings last week, said it made almost $120 million in a single day on June 1, in anticipation of new policies including an impending naira devaluation.
