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August 26, 2020

Africa

NIGERIA: Micromanagement of scarce FX resources continues

BY Malte Liewerscheidt

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( 2 mins) Two actions taken by the Central Bank of Nigeria (CBN) this week highlight the bank’s persistent penchant for micromanaging the exchange rate rather than heeding calls from international lenders to float the currency. The measures introduced on 24 and 25 August are likely aimed at counterbalancing an anticipated spike in FX demand as international flights […]

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