Lagos - Financial expert Bismarck Rewane, has predicted that the naira will be further devalued, Punch reports.
Rewane, Managing Director, Financial Derivatives Company Limited, stated that the additional round of devaluation of the national currency, which is expected before the general elections, would not be large.
Also read: Naira hits record low 196.30 to dollar
He said that Rewane said that the naira devaluation is going to happen sooner or later.
The naira hit an all-time low of 202 against the United States dollar at the interbank segment of the foreign exchange market on Wednesday, stoking speculation that the Central Bank of Nigeria might devalue the currency again.
Read more at Punch
- News 24