Naira Shakes Off Rate-Cut Fears, Hits Two-Year High
By Aboki Forex —
Nigeria’s naira has shaken off fears of new pressure and strengthened to a two-year high after the latest interest-rate cut.
The currency climbed to its strongest level in two years despite concerns that the rate cut would weaken it.
Rate-Cut Pressure Fades
The latest interest-rate cut had raised fears of fresh pressure on the naira. The currency did not weaken. It strengthened to a two-year high.
Market Watch
The naira’s two-year high is the key development for market watchers. The exact level was not stated.
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