CBN's MPC Members Analyze Naira Stability, Exchange Rate Convergence, and Inflation Risks
Members of the Central Bank of Nigeria's Monetary Policy Committee (MPC) discussed the recent stability of the naira and its improved confidence in the foreign exchange market. The MPC voted to maintain the benchmark interest rate due to inflationary pressures.
The convergence of official and parallel exchange rates has narrowed, reflecting increased market turnover and investor confidence. Emem Usoro and Aku Pauline Odinkemelu attributed the naira's appreciation to market turnover and reduced speculative activities.
The MPC remains vigilant about inflation risks despite the positive developments in the exchange rate.
Plus234Feed summary based on reporting from Legit NG. Read the original report below.
Read full article
Continue on Legit NG
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
Nigerian Naira Gains Strength Ahead of MPC Meeting, Market Optimistic
Experts Predict Possible Rate Cut at CBN MPC Meeting
Naira Weakens to N493/$1 After CBN MPC Meeting, Reserves at 2019 High
MPC Predicts New Exchange Rate, CBN Boosts Forex Liquidity with $574m
Nigerian Naira Surges to 7-Month High Against Dollar, Pound, and Euro
CBN Cuts Interest Rate to Boost Growth and Attract Investors
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
