Posted 4/1/2024, 11:35:26 PM
Naira Recovery Leads to Falling Prices for Schools, Healthcare, and Travel in Nigeria
- Naira recovery has led to decreased prices of goods and services in Nigeria
- CBN decision to allow BDCs to operate in forex market was a major factor in naira recovery
- Prices have dropped for international school fees (15%), medical tourism (20%), and airfares (25%)
- Naira is now trading below the rate BDCs were advised to sell at
- Foreign portfolio investments are on the rise after interest rate hike, with over $1.5bn inflows
