Nigeria Naira Heads for Best Quarter in 14 as Bank Lifts Curbs
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Nigeria’s naira headed for the biggest three-month gain in 14 quarters against the dollar after demand for the U.S. currency ebbed before the central bank lifts curbs on foreign investors’ debt holdings.
The naira advanced 1.1 percent to 152.025 per dollar at 2:01 p.m. in interbank trading in Lagos, according to data compiled by Bloomberg. The currency of Africa’s biggest oil producer has appreciated 2.6 percent since March 31, the best three-month gain since the quarter through December 2007.