Nigeria: Central bank is okay with naira

NIGERIA’S central bank believes the 22 percent depreciation in the naira after it scrapped the official foreign exchange window “is optimal at this time”, given the risks to inflation from a weaker currency. The Central Bank of Nigeria (CBN) said in a statement on Friday that its job was to ensure policy stability, that it did not panic and would not take desperate measures because the naira had fallen on the parallel market from the pegged interbank rate. – Reuters