L
LequteMan
Guest
Governor of the Central Bank of Nigeria Godwin Emefiele according to Bloomberg has disputed JPMorgan Chase & Co’s valuation of the Naira. The CBN gov believes JPMOrgan's assertion that there is a lack of liquidity in the foreign exchange market is wrong.
“There is no truth in the assertion by the index team that they do not see the liquidity,” Emefiele said, "there’s no reason to begin to take a look at” the naira’s value after the central bank devalued the currency in November, he added.
“We are very surprised at this action by the JPMorgan index team,” Emefiele said, adding that the central bank wasn’t consulted. “We want to stay in the index and we’re doing everything to make sure we do.”
Nigeria was placed on Index Watch Negative for JPMorgan’s local currency emerging market indexes on Friday after central bank measures in December reduced foreign exchange and bond trading, making it difficult for foreign investors to replicate the gauge, the New-York based lender said in an e-mailed statement. The regulator intervened after the naira fell to a record low soon after the announcement, according to Guaranty Trust Bank Plc.
#Nigeria #Naira #CBN
“There is no truth in the assertion by the index team that they do not see the liquidity,” Emefiele said, "there’s no reason to begin to take a look at” the naira’s value after the central bank devalued the currency in November, he added.
“We are very surprised at this action by the JPMorgan index team,” Emefiele said, adding that the central bank wasn’t consulted. “We want to stay in the index and we’re doing everything to make sure we do.”
Nigeria was placed on Index Watch Negative for JPMorgan’s local currency emerging market indexes on Friday after central bank measures in December reduced foreign exchange and bond trading, making it difficult for foreign investors to replicate the gauge, the New-York based lender said in an e-mailed statement. The regulator intervened after the naira fell to a record low soon after the announcement, according to Guaranty Trust Bank Plc.
#Nigeria #Naira #CBN
