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Nigeria Is Alone as Africa Sits-Out Tariff-Fueled Currency Interventions - BLOOMBERG
By Ray Ndlovu
African nations aren’t rushing to prop up their local currencies and tap their limited foreign-exchange reserves, even as US President Donald Trump’s tariffs upend markets and global trade.
So far, dealers said that only Nigeria, the continent’s most populous nation, has intervened in the foreign currency market to support the naira, selling $198 million earlier this month. Angola and Mauritius intervened before Trump announced reciprocal tariffs on trading partners on April 2.