cbn statement, 2010-04-16
Although the Committee noted that the external reserves were sufficient to finance 17 months of imports, which were well above the internationally recommended 3-months import cover, it believed that with the rising price of crude oil in the international market in recent months, coupled with the improvement in output with peace in the Niger Delta, there is likely to be an improvement in the level of foreign exchange reserves in the near term.
Sentiment: neutral
Topic: mp_exchange_rate