May 7, 2020 / 12:03 PM / 20 days ago

Nigeria's five-year naira futures slide past 550 after cenbank weakens contract -traders

ABUJA, May 7 (Reuters) - Nigeria’s five-year naira futures slid past 550 to the dollar on Thursday after the central bank weakened the currency on the derviatives market across maturities, traders said.

The bank weakened the currency on average by 73 naira across tenors, traders said, with the one-year maturity revised by 27 naira. The 5-year naira future weakened to 569 per dollar, traders said, from 413 naira in the previous session. (Reporting by Chijioke Ohuocha Editing by Gareth Jones)

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