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Strong Appetite for Nigerian High Yield Debt Drives Naira Rally - BLOOMBERG

SEPTEMBER 16, 2025

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Nigeria’s naira hit a near seven-month high boosted by stronger oil export earnings and foreign demand for the high yields offered by the local debt market ahead of possible interest rate cut next week.

The naira closed at 1,495.25 per dollar on Monday, according to data compiled by Bloomberg, breaking below the psychological level of 1,500 for the first time since February.

MARKET NEWS

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