Monday, 5 October 2015

Naira “appropriately priced” – CBN Governor

The naira is “appropriately priced” and the Central Bank of Nigeria (CBN) does not plan any adjustments for the time being, the bank’s governor Godwin Emefiele said on Monday.

“At this time…the currency is appropriately priced,” Emefiele told a conference in London.

Africa’s largest oil producer has restricted imports since June to offset a fall in vital oil revenues which has battered public finances and the naira currency.

The naira has an official exchange rate peg of 196.95 per dollar but has traded weaker than that in parallel markets.
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