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“Many Nigerians abroad are investing in Eurobonds. But now, people that have dollar income will prefer to save it in the dollar rather than change it to naira. We have many Nigerian companies launching dollar-denominated bonds to enable more people to invest in dollars,” an analyst at a securities firm who chose to remain anonymous said.
For manufacturers, the continued devaluation of the naira had led to increased costs with regard to the importation of raw materials for production needs. However, the most immediate consequence has been the erosion of profits as seen in the financial statements posted by listed firms on the NGX.
Compare the trading fees, features, available assets, pros, cons, and key takeaways of the best forex brokers in UAE for day trading in this guide.
India Business News: MUMBAI: The rupee appreciated by 7 paise to close at 82.
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