(Bloomberg) Nigeria’s central bank hiked the interest rates on short term debt obligations on Wednesday in a bid to mop up naira liquidity and attract foreign investor inflows.Most Read from BloombergHaley Loses Nevada Primary to ‘None of These Candidates’ OptionTesla Asks Which Jobs Are Critical, Stoking Layoff FearsChina Replaces Top Markets Regulator as Xi Tries to End RoutUS Commercial Real Estate Contagion Is Now Moving to EuropeCitadel Among Hedge Funds That Got Morgan Stanley’s Block-T
(Bloomberg) The naira’s official exchange rate fell below its street value, signaling the Nigerian currency may be closer to its fair market level after plunging to a record against the dollar this week.Most Read from BloombergMusk’s $55 Billion Pay Package Voided, Threatening World’s Biggest FortuneByron Allen’s Latest Takeover Attempt: Paramount for $14 BillionNovo Nordisk Smashes Past $500 Billion Value on Wegovy Frenzy Microsoft Sales Top Estimates; Cloud Growth Disappoints SomeMusk Says
(Bloomberg) Nigeria’s naira plunged to a record against the dollar following a revision of the methodology used to set the exchange rate, in effect the second devaluation of the currency in seven months.Most Read from BloombergMusk Says First Neuralink Patient Received Implant in BrainTraders Line Up for ‘Once-in-a-Generation’ Emerging Markets BetBlackstone Is Building a $25 Billion Empire of Power-Hungry Data CentersTrump Cash Stockpile at Risk From $450 Million Dual VerdictsAmazon Drops iRo
(Bloomberg) Central Bank of Nigeria Governor Olayemi Cardoso said inflation will moderate this year and described the country’s naira currency as “undervalued,” in his first public comments on the economy since November.Most Read from BloombergRussia Says Ukraine Downed Plane Carrying 65 Prisoners for SwapApple Dials Back Car’s Self-Driving Features and Delays Launch to 2028Trump Races Toward 2024 Biden Rematch After New Hampshire WinChina Boosts Stimulus by Allowing Banks to Keep Smaller Res