The naira has been in free-fall on the unofficial market, where it trades freely, which worsened after currency restrictions were lifted on the official market in June.
On Tuesday, it slumped to 1,100 to the dollar on the parallel market, and 980 per dollar on the official market, Refinitiv data showed.Longer-duration bonds attractive amid widening spread as recession looms -PIMCO's Chang A widening spread between long- and short-term U.S. bond yields makes longer duration assets more attractive for investors as a recession looms in an uncertain macroeconomic environment, a portfolio manager at bond giant PIMCO said on Thursday.Hong Kong's Dongfeng Motor Group and the Netherlands-based Stellantis said on Thursday the automakers will expand their vehicle and component export business through an asset sale to better capture the burgeoning China auto market.Mozambique's $3.
Mozambique's $3.1 billion lawsuit against Emirati-Lebanese shipbuilder Privinvest is a politically motivated attack to deflect blame for the failure of economic projects, the company's lawyers told London's High Court on Thursday.