2015-02-13 10:07
Abuja - Indications have emerged that the Central Bank of Nigeria
may devalue the naira again following developments in the foreign
exchange market, Punch reports.
The
currency has been experiencing free fall since November 25, 2014 when
the CBN Monetary Policy Committee devalued it by eight per cent from 155
to 168 against the United States dollar.
The
Bankers’ Committee which comprises the Central Bank of Nigeria
governor, the deputy governors, chief executive officers of Deposit
Money Banks and other stakeholders gave the hint of further devaluation
on Thursday just as the nation’s External Reserves dropped by $1bn in 12
days.
Read more at Punch
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