Macroeconomic Report & Economic Updates
June 24, 2016
Nigeria Economic Update (Issue 27)
The
Naira strengthened against the dollar in the review week. Specifically, the
Naira appreciated by 2.7 percent to N355/$ (parallel market rate) on June 17, 2016,
following the release of the flexible FOREX policy guidelines by the CBN on
June 15, 2016. The new policy effectively adopts a single market structure
hosted at the autonomous/inter-bank market. The inter-bank trading scheduled to
commence on June 20, 2016 will be market-determined, officially eliminating the
N197/$ peg. To ensure foreign exchange liquidity, primary market dealers have
been introduced while the CBN will participate in the market through periodic interventions.
Related
Trade And Foreign Direct Investment Nexus In West Africa: Does Export Category Matter?
This paper examines the effect of inward FDI in
West Africa on exports to EU countries. It investigates from a host country
perspective, the impact of FDI on different export categories: primary,
intermediate, and final goods.