ABUJA, March 23 (Reuters) - Nigeria one-year currency
forward on Monday recorded its biggest fall in more than
10-years after the official naira exchange rate was devalued on
Friday.
The derivative, which gives an indication of where the
currency could trade in a year's time, fell 11.3% to 515 naira
to the U.S. dollar.
The Nigerian central bank devalued the official currency
rate by 15% on Friday, in a move to converge a multiple exchange
rates regime which it has used to manage pressure on the naira,
traders said.