Teneo-Europe-Report

January 27, 2020

NIGERIA: Defending the naira remains the imperative

BY Malte Liewerscheidt

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( 2 mins) On 24 January, the Central Bank of Nigeria’s (CBN) monetary policy committee decided to hike the cash reserve ratio (CRR) by 500 basis points from 22.5% to 27.5%, while leaving all other monetary parameters unchanged. While raising the CRR will likely serve to keep fixed-income yields high and thus support the exchange rate, it is […]

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