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Nigeria s Naira Whiplash As Standard Chartered s $120 Million Gain Turns to Loss

StanChart Gained and Lost Millions on Nigerian Naira s Wild Ride

(Bloomberg) Standard Chartered Plc had a wild 2023 with Nigeria’s volatile currency as the African nation struggled with foreign-exchange rules to attract investment from overseas and boost the supply of dollars.Most Read from BloombergBYD’s New $233,450 EV Supercar to Rival Ferrari, LamborghiniStock Rally Stalls at Start of Data-Packed Week: Markets WrapFreddie Mercury’s London Residence Lists at £30 MillionJacob Rothschild, Financier and Philanthropist, Dies at 87Poland’s Famously Frank Top

StanChart gained and lost millions on Nigerian naira s wild ride

Despite the currency volatility in Nigeria, StanChart’s Africa and Middle East region last year posted its highest annual pretax profit since 2015.

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