Bank of America Sees Naira Official Rate Falling To N520 To A Dollar After The Presidential Election

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Bank of America sees Naira official rate falling to N520 to a dollar after the presidential election in 2023
The official market value of the Nigerian currency, the Naira, is expected to fall from N520 to the dollar in 2023.
This is according to Tatonga Rusike, an economist at the Bank of America(BOE), in a note to investors.
Bloomberg reports that the Bank of America told investors that the present Naira exchange rate is overvalued at 20 percent. #short