Nigeria Takes Fresh Steps Seen Boosting Naira Against the Dollar – Bloomberg
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A man exchanges Naira for US dollars in Lagos.
Photographer: Pius Utomi Ekpei/AFP/Getty Images
Nigeria unveiled new measures to aid the country’s bruised currency, potentially helping to extend its recent rally.
The central bank on Monday offered to sell dollars to the country’s bureaux de change at the highest level since the naira was devalued at the start of the year. It also said it would ban the use of dollar collateral for naira loans, with the exception of eurobonds issued by the government and the guarantees of foreign banks.
