Sheepskin Rug
2017-8-11u2002·u2002With inflation higher than in trading partners, the real effective exchange rate (REER) only depreciated by 3% in that time, leaving the naira 25% stronger in real terms than in 2011 (Table 1.2). Balance of payments. Nigeria's current account shifted to a deficit in 2015 at US$15.4 billion, compared to the surplus of US$10.8 billion in 2011.
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