Skip to content
Subscriber Only
economics

Nigeria Devaluation Bets Tempered as Emefiele Keeps Naira's Peg

Updated on
  • Three-month naira forward contracts rally the most on record
  • Eurobond plan could be hindered by currency curbs, says Exotix

Suddenly, the possibility of a more than 20 percent slump in Nigeria’s currency is off the cards, for now at least.

Traders on Tuesday lowered their expectations on the size of a naira devaluation as central bank Governor Godwin Emefiele stuck to his policy of keeping a stable exchange rate.