Emefiele’s Statement Sends Naira Crashing To Two Months Low

Reuters: Nigeria’s naira weakened to more than two month low of 164.46 to the dollar on Friday, down 0.37 percent, a day a day after the new central bank governor Godwin Emefiele struck dovish note on interest rates.

At 0938GMT the local unit was trading at 164.46 to the dollar on Friday, lower than 163.85 it closed the previous day. The currency was last seen at this level on March 28, when it closed at 164.95 to the dollar.