Nigerian national currency devalued

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/AP

Nigerian central bank left its key interest rate level unchanged first time in 2011 and devalued national currency Naira to stimulate growth in Africa's largest oil producing country. Central bank kept interest rate at record high 12% while devalued exchange rate from 150 Naira per US dollar to 155 Naira per US dollar. In 3rd quarter country's economic growth decelerated to 7.4% from 7.7% as oil production eased.

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Tue, 22 Nov 2011 14:29:36 GMT

British Pound strengthens against US dollar

The British Pound recovered from six-week drop against US dollar ahead of a government report as economists expect it will confirm that UK's budget deficit lessened in October. On Tuesday during London morning trading session the pound advanced 0.3% reaching $1.5684 after hitting the lowest level at $1.5613 yesterday. The pair is currently trading at 1.5633 US Dollars per Pound.

Tue, 22 Nov 2011 14:25:54 GMT

Edinburgh money attracted by increasing London rents

Edinburgh's biggest real estate managers Scottish Widows Investment Partnership and Standard Life Investments are boosting their investments in commercial buildings in south-east England and London on predictions that rents will surge quicker than in other regions of the UK. Scottish Widows' Gerry Ferguson thinks that return on property in respective areas is going to provide annual return of at least 7% in next five years.

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