Naira At Growing Risk Of Devaluation In Coming Weeks

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Naira At Growing Risk Of Devaluation In Coming Weeks – Absa

« on: May 18, 2023, 07:02:47 AM »

Naira At Growing Risk Of Devaluation In Coming Weeks – Absa

Nigeria will likely devalue its local currency by about 15% after President-elect, Bola Tinubu, is sworn in on May 29 to alleviate severe trade imbalances and dollar shortages, an analyst at Absa Group Ltd. said. Africa’s largest economy operates a multiple exchange regime dominated by a tightly controlled official rate, cutting off access to many […]

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