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Pulse Business Wrap U.S to pressurize Nigeria to devalue Naira

This is to boost U.S investment in the Nigerian economy, Secretary of State for Africa, according to Linda Thomas-Greenfield, who divulged this to the audience at the U.S. Institute of Peace.

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U.S to pressurize Nigeria to devalue Naira

The United States intends to pressurize Nigeria to adopt a more flexible foreign exchange policy.

This is to boost U.S investment in the Nigerian economy, Secretary of State for Africa, according to Linda Thomas-Greenfield, who divulged this to the audience at the U.S. Institute of Peace.

She says Nigeria should ensure the value of the naira currency versus the U.S. dollar was “more realistic.”

Fitch predicts fiscal slippage ahead of Nov. polls

Fitch is predicting “fiscal slippage” ahead of November 3 elections.

In a statement issued by Fitch last week on Ghana’s credit worthiness, the ratings agency said the slippage would increase inflationary and financing pressures.

In addition, Fitch said a further decline in commodity prices would negatively impact growth and exacerbate Ghana’s twin deficits.

We go to the currency market now where

Currency                      Buying                         Selling

Dollar                            3.83                             4.13

Pound Sterling             5.42                              5.72

Euro                             4.28                            4.58

On how your stocks performed on the GSE Index today

CAL Bank Limited and Ghana Commercial Bank Limited were the biggest losers of the day, dropping 1p each to close at 1.00p and 3.68p respectively…Whereas Ghana Oil Company Limited were the biggest gainers for the day, gaining 2p each to close at 1.48p.

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