macro

How CBN rebuilt MPC credibility after Nigeria’s currency crisis - Businessday NG

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DW NOTE

The Central Bank of Nigeria has devalued the naira four times since 2020. Each time the IMF called it a credible reform. Each time inflation accelerated and reserves fell. Credibility isn't rebuilt by doing what the Fund wants — it's earned by defending the currency you issue.

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The Indian crude basket hit $123.29 per barrel last week, approaching levels recorded in March 2012, and adding 86% to the price Indian oil marketing companies pay, local media have reported, also noting the effect of a cheaper rupee. Since Indian companies pay for the oil they buy from abroad in U.

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How CBN rebuilt MPC credibility after Nigeria’s currency crisis - Businessday NG

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