currency

Emefiele’s CBN and its currency war

Emefiele’s CBN and its currency war

We have just had what looks like the best week for Nigeria’s foreign exchange (forex) market, just on the heels of its worst week (last week). After tumbling to an all time low of N520/USD1, Naira began to appreciate early last week following a swift roll-out and execution of counter-speculation measures by the Central Bank of Nigeria, CBN.