| Nigerian President Muhammadu Buhari’s Sunday speech has left foreign-exchange traders with little clue as to the fate of the naira. Far from clarifying the government’s approach on the currency, following central bank Governor Godwin Emefiele’s pledge last week to adopt a more flexible exchange-rate policy, Buhari’s words have left the market as confused as ever.
While some, including Standard Chartered Plc, said a looming recession had forced Buhari to change tack and allow the naira to depreciate, others said the president -- who once likened letting the currency weaken to “murder” -- had signaled continued resistance to reducing its value...............................................Full Article: Source
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