Traders Aren’t Yet Calling an End to Nigeria’s Naira Problem
LAGOS (Capital Markets in Africa) – Nigerian officials are increasingly confident the naira’s troubles are over for good. Some investors disagree. Portfolio inflows have risen in the past three months with crude prices increasing above $60 a barrel and money managers taking heart from a new foreign-exchange trading window, in which the naira has converged with the black-market rate. That prompted central bank Governor Godwin Emefiele and Patience Oniha, the head of the nation’s Debt Management Office, to tell…
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