Currency: What’s Happening With the US Dollar and Nigerian Naira?
In Nigeria, the dominance of the US dollar is now facing a challenge. The region’s national currency, the Naira is now putting up a robust front, battling the dollar in a new interesting development. The Naira is expected to rebound by 25% against the US dollar by the end of 2024, according to a Bloomberg report. If the Naira supremacy continues, the US dollar will loosen its grip in Nigeria, encountering another dent in its colossal global prestige. Also Read: BRICS: Morgan Stanley Issues Major Warning About US Dollar and Stocks Naira Up, Dollar Down: What’s Going On? Source: kahawatungu.com Analysts at Goldman Sachs have come up with a new forecast for the Nigerian Naira. Analysts have predicted the Naira’s rising dominance in the region. The firm is expecting USD/NGN to rally up to 25% by the end of 2024. Similarly, the analysts at Standard Chartered and Citigroup Inc. have echoed similar projections, anticipating the Naira to rebound s...