The Nigerian Naira is losing ground in foreign currency (FX) markets after the Central Bank of Nigeria’s (CBN) monetary policy committee (MPC) raised the benchmark interest rate to 18%. The Nigerian naira lost 0.1% against the US dollar at the investors’ and exporters’ foreign exchange window (IEW) as demand for FX outweighed supply. The CBN … Continue reading Naira Drops As External Reserves Slumps Below $36bn