When the crashes, Nigeria’s stocks usually sees a huge sell off. At the close on March 10, the country’s All Share Index had fallen 4.91%, while bank stocks were down 12.5% on the previous day.
Emerging market oil exporting nations need to act fast. As well as managing the impact of a capital market hit, they need to revise budgets, tighten monetary policy, stem inflation and shore up foreign exchange to maintain some semblance of stability.
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