Quick Guide for Those Who Can't Figure Out the Naira's Worth (Infographics)


For now, this is as close as it gets to a devaluation in Nigeria.

Monetary policy officials unified some of their multiple exchange rates when they let currency dealers quote naira levels used in actual trades this month. They did it to entice back bond investors who fled in 2014 and 2015 as oil prices collapsed and the central bank tightened capital controls.

But not everyone is clear on the changes in the currency market of Africa’s biggest economy, or why they matter.

Read more: Quick Guide for Those Who Can't Figure Out the Naira's Worth – Bloomberg Quint

Recommended