Nigerian Currency Naira Continues Steady Repricing Versus Dollar
The Nigerian currency gained against the US dollar on Thursday. The Naira rose by 0.28 percent to close at N1,100 per dollar from its previous close of N1,107.
The currency gained after the country's central bank announced that it had tapped all-time low against the greenback.
The Naira was trading at its weakest level since the global financial crisis hit in 2008 and had been hovering around N1,000 per dollar for months
Nigeria has been battling with a deepening recession which has seen unemployment rise to more than 60 percent while inflation rates have spiked to over 20 percent
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