Central Bank see reserves recovering
Nigeria’s Central
Bank expects a drop in foreign reserves to end due to higher oil
prices, tighter monetary policy, and stronger capital markets, and sees
no need to let the naira weaken, Governor Lamido Sanusi said. “The
Central Bank is convinced that a stable exchange rate is crucial both
for maintaining price stability and attracting foreign investment as it
provides a transparent anchor,” Mr. Sanusi told Reuters late on
Wednesday.
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