Naira Averages 1.8% Depreciation In March Despite Higher Oil Prices

The naira exchange rate to the dollar weakened by an average of 1.8% in March, even as crude oil prices firmed, due to softer production levels and increased domestic oil allocations to local refineries that limited foreign-exchange earnings from exports. Data from the Central Bank of Nigeria (CBN) showed the currency depreciating further on Tuesday […]

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