Friday, 3 July 2015

Central Bank of Nigeria says it won't take desperate currency measures

 
Nigeria's central bank believes the 22 percent depreciation in the naira after it scrapped the official foreign exchange window "is optimal at this time", given the risks to inflation from a weaker currency.



The bank said in a statement on Friday that its job was to ensure policy stability, that it does not panic and would not take desperate measures because the naira has fallen on the parallel market from the central interbank rate.

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