Nigerian Naira Drops Most in 2 Weeks as Bank Cuts Dollar Sale
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Nigeria’s naira dropped the most in two weeks after the central bank reduced dollar supply at an auction today.
The currency of Africa’s largest oil producer weakened 0.3 percent to 157:38 a dollar as of 3 p.m. in Lagos, the commercial capital, the most on a closing basis since Dec. 15, according to data compiled by Bloomberg.