New Dollar-Trading Window Sends Nigerian Stocks Surging: Chart

(Bloomberg) -- Nigeria’s stocks are surging thanks to a new platform that allows investors to buy and sell dollars more easily. The window, which opened on April 24, is easing a scarcity of foreign exchange in Africa’s biggest economy, officials say. The nation’s equities rose more than 7 percent last week, the most globally, as investors put money into a New York-listed exchange-traded fund that tracks Nigerian stocks for the first time since March.

To contact the reporter on this story: Paul Wallace in Lagos at pwallace25@bloomberg.net.

To contact the editors responsible for this story: Dana El Baltaji at delbaltaji@bloomberg.net, Srinivasan Sivabalan