RenCap Proposes N250/$1 Currency Adjustment for Nigeria

As the debate over the naira devaluation rages on, analysts at Renaissance Capital (RenCap) have stated that it would be good to see Nigeria shift its currency this month to about $250/$1. 

Adjusting the naira to the aforementioned rate, according to the financial advisory and research firm, would make the investor case about Nigeria more optimistic, even as they also recommended wide band around the naira in order to allow for "maximum flexibility."

They argued that it would be a shame if Nigeria's central bank move its currency rate slightly at its monetary policy committee (MPC) meeting this month and then do so again when pressure resurfaces again in three to six months’ time.



Check This Day newspaper for the full story.

















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