Friday, October 11, 2024
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Goldman Sees Nigerian Naira Extending World-Beating Rally – Bloomberg

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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world
Americas+1 212 318 2000
EMEA+44 20 7330 7500
Asia Pacific+65 6212 1000
The naira has rallied 12% against the dollar in April.
Nigeria’s naira could extend gains that have already made it the best-performing currency in the world this month, said a Goldman Sachs Group Inc. economist — provided policymakers stay on track.
The naira has rallied 12% against the dollar in April, adding to its 14% surge in March. Capital inflows and interest rate increases are helping it to retrace steep losses caused by two devaluations since June after the government loosened currency controls.

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