Nigeria’s central bank Governor Godwin Emefiele will unveil a new
currency policy on Wednesday afternoon in Abuja, the capital, according
to a spokesman.
The governor’s announcement will be televised, Isaac Okorafor said by phone from Abuja.
Emefiele has faced calls for more than a year to devalue the currency,
as other oil exporters from Russia to Kazakhstan and Angola have done,
amid a rout in crude prices since mid-2014 to around $50 a barrel.
Investment into Nigeria has shriveled as foreigners are put off by
capital controls needed to defend the currency’s peg of 197-199 per
dollar, while local businesses have struggled to import raw materials
and equipment.
Emefiele said last month the central bank would
implement a “flexible” exchange-rate policy to help alleviate a dollar
shortage that has strangled the economy.
Source: Bloomberg
No comments:
Post a Comment