Naira Surges Against Dollar, Hits 5-month High

today04/15/2024 3

share close

The Naira has surged against the US Dollar, surpassing key resistance levels to trade below N1,000 in certain segments of the black market as of late Sunday. This rally aligns with earlier forecasts by Goldman Sachs and coincides with increased global geopolitical tensions.
Economists from Goldman Sachs anticipate the Naira’s bullish trend to continue, potentially driving the exchange rate below N1000 per US dollar in the coming months. This positive shift follows a period of volatility marked by significant devaluations since last June, with Nigerian financial authorities implementing measures such as interest rate hikes and strategic forex interventions to stabilize the currency.
The Central Bank of Nigeria’s aggressive monetary policy adjustments, along with new market strategies, have been instrumental in the Naira’s recovery, as highlighted in the latest Monetary Policy Committee meeting.

Written by: bossgmsi

Rate it

Previous post


Israel To Reopen Schools After Iran Attack

After a “situational assessment”, on Monday, the military has announced that schools were set to reopen across Israel , this is after coming they were ordered closed due to Iran’s unprecedented aerial attack over the weekend. According to a statement by the military , areas of the northern border (with Lebanon) and communities near the Gaza Strip, will resume educational activities with restrictions,” the statement continued, adding that curbs on […]

today04/15/2024 5

Post comments (0)

Leave a reply

Your email address will not be published. Required fields are marked *

Our customer support team is here to answer your questions.
error: Alert: Content is protected !!