The Central Bank of Nigeria, CBN, Governor, Mallam Sanusi Lamido Sanusi, has said the apex bank has reached the desired degree of stability for the Naira and does not have a cause to be concerned over inflation due mostly to recent stability in its core components.

He said: “When the naira reached N167 to the US dollar in October, every currency was going through a crisis. Now, we have retraced that. We have created the stability that we needed. We have stopped the panic”

Inflation rose to 10.5 per cent in October from 10.3 per cent in September, but Sanusi said a breakdown of month-on-month numbers shows that “inflation has come down on all three components: headline, core and food inflation.” According to him, “year-on-year, core (inflation) hasn’t increased which has not been the increasing trend seen in the past. Month-to-month (inflation) has been moderating and core (inflation) is also not increasing (which) would suggest that as far as non-structural components are concerned at this moment … we don’t have a cause for concern.”

The CBN governor, also, disclosed that the bank might reduce its exposure to euro and buy Chinese renminbi. He added that the exposure to renminbi might “most likely” result in arbitrage deals to the detriment of the euro.

Well Thanks that the Price is currently stable and won't go above these figures.