Macroeconomic Report & Economic Updates
August 5, 2016
Nigeria Economic Update (Issue 33)
The naira depreciated by 4.3 percent to a
record low of N313/$ at the interbank market segment on July 29, 2016.Precisely, the lack of liquidity in all FX market segments continues to weaken
the naira. In order to increase FOREX liquidity, moderate inflationary
pressures, encourage capital inflows and support the naira, the CBN may need to
increase the supply of FOREX in the interbank market while simultaneously
mopping up idle funds through the sale of securities.
Related
Rising Inflation: Will The MPC Raise The Policy Rate Or Support Economic Growth
This brief examines global and domestic developments in
Nigeria as well as the effect of slowdown in economic growth of key oil
consuming nations on the Nigerian economy.