The naira has been in free fall on the unofficial market, where it trades freely, after currency restrictions were lifted on the official market.
Last month, the currency slid past 1,000 naira per dollar on the black market and has continued to weaken.He said, without elaborating, that the inflows would come from the issuance of instruments in dollars, oil sales and foreign investments. On the official market, the naira recovered to 775 to the dollar from a record low of 999 it touched last week.
The prospect of foreign exchange inflows has slowed naira's depreciation on the official market, one trader said. It kept losing ground, however, on the black market due to thin trading.Ukraine's central bank cut its key interest rate to 16% from 20% on Thursday, its third consecutive easing this year as inflation continues to slow while the war-torn economy started to recover.