By: Economic & Finance Report
The Nigerian Central Bank has made strong indications that they would not devalue the Nigerian Naira. They have maintained over the last 4-5 months that they will be monitoring speculation and stabilizing the Naira against currency fluctuations.
The Central Bank has indicated it sees no reason currently to devalue the currency, and the effect seems to be holding up… The question many analyst have indicated, is how long will this go forward????? The Naira has been flat since March 2015. It has hovered around$198-$199 to $1 USD. Time will tell what will eventually occur. -SB