Saturday, June 15, 2024
advertise your product or service on freshreporters

HomeBusiness NewsNaira will end the year around N1,450 per Dollar - Global rating...

Naira will end the year around N1,450 per Dollar – Global rating agency projects

One of the global rating agency, has projected that the Nigerian naira will end the year at N1,450 to a dollar.

Fitch Ratings said, despite the volatility experienced by the naira since its floating in June 2023, there are expectations that the fluctuation will reduce by the third quarter (Q3) of 2024.

ALSO READ:  Exchange: Dollar to naira black market today

Gaimin Nonyane, director, Middle-East and Africa sovereigns, at Fitch Ratings, made this known during a post-sovereign rating webinar focused on Nigeria and Egypt.

Nonyane said

join freshreporters telegram channel

“The naira is still finding its feet. It is still in price discovery mode. So we would expect a lot of volatility in the near term,” she said.

ALSO READ:  Black Market Dollar to Naira Exchange Rate - December 9th, 2023

“However, as I just mentioned, there is the expectation of multilateral donor funding coming in Q3 this year in addition to improved oil receipts. So that should help to reduce volatility somewhat by Q3 this year.

“We project that naira will average about N1,200/dollar this year and end the year around N1450/dollar. And in terms of next year, we see a gradual depreciation but it also depends largely on the foreign exchange reforms momentum.

ALSO READ:  Naira To Dollar Black Market Rate Today 6th August 2023

“So, this is our baseline scenario on the basis that the momentum continues at the current pace.” [CONTINUE READING HERE]>>>>



DISCLAIMER
For publication of your news content, articles, videos or any other news worthy materials, please send a mail to thefreshreporters@gmail.com

Join Other Great Readers, FOLLOW us On WHATSAPP>> https://chat.whatsapp.com/DN0y4bGIbVI4II6aNcPssb

Join Other Great Readers On TELEGRAM>> https://t.me/freshreporters

For Advert and other info, Click this link to send a Message to the Admin https://freshreporters.com/advertise/


Join thousands of readers to receive daily Latest News: