Posted 2/25/2024, 8:32:29 PM
Forex Firm Predicts Naira Rate Could Hit N1100/$1 by 2024, Cautions on Further Depreciation Risk
- Agusto & Co predicts naira/dollar exchange rate could converge at N1100/$1 by end of 2024
- Forecasts based on expectations of higher export earnings from oil production and high oil prices
- Notes risk that naira may depreciate further if CBN reverts to heavier exchange rate management
- CBN has committed to boosting forex liquidity from various external sources
- Moghalu says key to resolving naira issues is transforming economy into a productive and export-oriented one
