The Naira has remained relatively stable at N363/$ in the forex market since April 2017. Gross external reserves climbed to $34.09bn, for the first time in 32 months. Most food prices in Nigeria have shrugged off the currency gains and remained relatively static.
In the meantime, brent oil price has stayed above $63pb, however the build-up in U.S crude inventories has limited further spikes in the price.
The FDC Think Tank summarises the impact of global and domestic developments on the commodity markets.
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