Is the Naira Ever Going to Recover? – LBS EBS – March 2015

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Saturday, March 07, 2015 2.55 PM / FDC

 

Postponement or Devaluation: A Choice between Bad & Worse

 

When the price of oil crashed to $45pb, it seemed that the wheels had come off the Nigerian economy.

 

Surely but reluctantly the economic adjustments have started. The main question now is what are the effects of these measures on manufacturers, investors and markets?

 

Another issue is the fear that accompanied the abolition of the RDAS auction and the adoption of an interbank forex system with a rate of N199/$. The parallel market is now trading at N226/$.

 

At this month’s LBS breakfast session, Bismarck Rewane and the FDC team look at the effects of a N200/$ exchange rate and the possibility of a naira recovery in the near term.

 

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