Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Nigeria’s Naira Heads for Best Month in Six on Dollar Inflows

The naira headed for its best monthly performance in six after dollar inflows from the central bank and oil companies.

The currency of Africa’s biggest oil producer climbed less than 0.1 percent to 157.95 per dollar as of 12:55 p.m. in Lagos, the commercial capital. The naira has climbed 1.7 percent this month, the third-best performer in Africa according to data compiled by Bloomberg.

The naira has been “steady” on “dollar inflows from the central bank, and to a lesser extent, dollar sales by energy companies,” Kunle Ezun and Kenneth Asenime, analysts at Ecobank Transnational Inc. in Lagos, wrote in an e-mailed note today.

The oil industry is the second major source of dollar supplies in the country after the Central Bank of Nigeria, which offers dollars at auctions on Mondays and Wednesdays and through interbank trading to maintain exchange-rate stability. The Abuja-based regulator sold $430 million this week, the most in three.

The yield on Nigeria’s 7 percent domestic bonds due October 2019 dropped 56 basis points to 14.41 percent, according to yesterday’s data on the Financial Markets Dealers Association website. Yields on the nation’s $500 million of Eurobonds due January 2021 slid one basis point to 4.92 percent today.

Ghana’s cedi was up 0.1 percent to 1.9315 a dollar in Accra.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.