Quick Guide for Those Who Can't Figure Out the Naira's Worth
- Nigeria aims to lure investors after publishing Nafex rate
- The move has alligned interbank rate with black-market trades
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For now, this is as close as it gets to a devaluation in Nigeria.
Monetary policy officials unified some of their multiple exchange rates when they let currency dealers quote naira levels used in actual trades this month. They did it to entice back bond investors who fled in 2014 and 2015 as oil prices collapsed and the central bank tightened capital controls.