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Global Trade Alert

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Nigeria: Devaluation of the Naira in November 2014

Description

On 25 November 2014, the Central Bank of Nigeria (CBN) devalued the Naira by nearly 10 per cent and increased its interest rate from 12 to 13 per cent. The measure should counter the effect of fallin...

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Intervention Details

Intervention Type

Competitive devaluation

MAST Chapter

G: Finance measures

Implementation date

25 Nov 2014

Revocation date

No revocation date

Implementation level

National

Affected flow

Inward

Announced as temporary

No

Eligible firms

all

Affected Trading Partners

Graph

Table

Affected Sectors

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Affected Products

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