Close-up of hands exchanging a large stack of African banknotes, highlighting currency transactions in Africa.
Central bank intervention this week failed to stop slide in Nigeria’s naira to a two-month low ahead of a rate decision Monday. The naira weakened 5.1% on Thursday to 1,533.99, the weakest level against the dollar since March 20, according to prices provided by FMDQ, the trading platform that sets the official rate. That reversed a 4% gain the previous day as after the central bank sold dollars in the market to boost liquidity.