Posted by In the next twelve months, it is probable that the Naira would increase to N1,200 per dollar.
A report titled “Nigeria—Turning the Corner” published by Goldman Sachs indicated this.
Positive real rates, capital inflows, and signs of a move to a more conventional policy framework are the three pillars upon which the prediction rests, according to the research.
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Despite its recent currency crisis, “we think that Nigeria is turning the corner,” it stated.
Our foreign exchange experts now anticipate that the Naira would appreciate to NGN 1200 vs. the USD in 12 months, as a result of these occurrences, according to the research.
Nigeria has emerged from a phase of monetary policy transition, which was marked by severely negative real interest rates and the lack of a credible policy anchor, it further claimed.