Naira has been named the best-performing currency this month (April), according to a new report by Goldman Sachs.
The report further suggests the Nigerian currency will exchange below N1,000 per Dollar in the coming months.
The firm disclosed this in its latest report on Nigeria’s economic realities.
Recall that in March, Goldman Sachs forecast that the Naira would appreciate to N1,200 per Dollar in 2024.
The group’s projection became a reality on Monday when the Naira exchanged at N1,230.61 at the official market and N1,200 at the parallel market.
With the Central Bank of Nigeria, CBN, intervening by selling FX to Bureau De Change operators at a revised rate of N1,101 per Dollar from N1,251, the Naira appreciated by N60, trading at 1,140 per Dollar at the Parallel Market on Friday.
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