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Nigeria MPC Member Sees ‘Undervalued’ Naira Rallying This Year - BLOOMBERG
The Nigerian naira is undervalued and expected to rally this year amid improvements in fiscal and monetary conditions, according to a member of the central bank’s monetary policy committee.
The currency is projected to “appreciate to 1,450 naira per dollar by the end of 2025,” from 1,535.50 at present, Murtala Sagagi said after a May 20 committee meeting, the central bank said in statement published on its website. “The value of the naira has been relatively stable even though it is still considered undervalued,” he said.
