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
Export Commodity Prices And Long-Run Growth Of Primary Commodities-Based African Economies
There
is a link between primary commodity export prices and economic performance.
Many African economies are primary commodities export biased, often in few
primary commodities. Previous studies focus on the impact of commodity prices
on growth in Africa with little attention paid to different primary commodities
and level of diversification in primary commodities export. This study,
investigates the effect of primary commodity prices on the long-run growth of 24
primary commodities-based African economies; by commodity types and level of
diversification in primary commodities exports.