- African central banks are stepping up their market operations to stabilize their falling currencies and lower import inflation
- Bloomberg reported that some African countries including Nigeria spent $400 million to defend their currencies
- According to experts, during terms-of-trade shocks, these interventions become more frequent and significant
Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.
In an effort to support their collapsing currencies and reduce import inflation, African central banks are increasing their market interventions.
