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A weekly African currencies column reports that Morocco's central bank began buying surplus foreign currency from local banks to absorb a glut of remittance and tourism inflows. It also reports that the Nigerian naira has held steady at 570 per dollar after the central bank shut down a key unofficial-rate website.
Nigeria raised $4 billion through a Eurobond sale.
These are local FX market developments with little direct effect on global feed or grain prices. They matter mainly to African importers' hedging costs.
financialafrik.comEditorSep 26, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
