Foreign Reserves

Nigeria’s Half-Measures on Currency Are Only Half-Working

Posted on by The Editorial Team
Nigeria’s Half-Measures on Currency Are Only Half-Working

LAGOS (Capital Markets in Africa) – A year after Nigeria scrapped a currency peg that sent foreign investors fleeing, it’s still battling to entice them back. But trying to placate investors by introducing multiple exchange rates isn’t going to work, bond funds and Wall Street lenders including Citigroup Inc. say. To end the dollar shortage that has hamstrung West Africa’s biggest economy and oil producer, President Muhammadu Buhari and central bank Governor Godwin Emefiele will have to weaken the naira’s official rate again,…

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Africa’s Central Bank Monetary Policy Rates and Foreign Exchange Reserves

Posted on by The Editorial Team
Africa’s Central Bank Monetary Policy Rates and Foreign Exchange Reserves

LAGOS (Capital Markets in Africa) – Angola’s central bank kept its benchmark lending rate unchanged at 16 percent following a policy meeting on Friday 28th April 2017, the bank said in a statement posted on its website. The National Bank of Angola (BNA) has kept its key rate steady since June last year when it raised it to the current level to curb accelerating inflation. In 2016 the BNA rate was raised 500 basis points….

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