Comercio Partners Limited, a leading investment banking firm, has projected that the naira would close at N1,700 per dollar in the first half of 2025.
The firm made this prediction in its 2025 Macro Economic Outlook report, titled “Looking Forward to the Future.”
Comercio stated that the current appreciation of the naira was due to Eurobond issuance, adding that the depreciation of the naira remained inevitable.
The report indicated.
The report further explained that only a “well-coordinated effort” between monetary and fiscal authorities could ensure sustained currency appreciation and broader economic resilience in the years ahead.
Ifeanyi Ubah, the head of investment research and global macro strategist who presented the report added:
On his part, Stephen Osho, CEO of Comercio Partners Capital, expressed optimism that the naira exchange rate would appreciate further.
He attributed its current strength to several key factors, including increased FX inflows, improved market liquidity, and greater clarity from the CBN regarding the clearance of foreign obligations.
On inflation, the firm projected that headline inflation could drop as low as 15% in the first half of 2025, signalling a gradual return to economic stability, Dailytrust reports.
The Nigerian currency recently performed strongly against the US dollar, with exchange rates currently below the N1,600 threshold in both the official and unofficial markets.
The latest data from the Central Bank of Nigeria showed that on Tuesday, February 11, naira closed at N1,513 a dollar exchange rate
While in the parallel market also known as the black market, BDC operators confirmed that a dollar was sold at N1,568 and bought at N1,555.
Abudulahhi a trader told TimesNow.com.ng
TimesNow.com.ng earlier reported that Adeboye prophesied that the naira would improve against the US dollar and urged Nigerians to remain hopeful.
Adeboye revealed the prophecy during the RCCG’s monthly thanksgiving service on Sunday, themed ‘Uncommon Miracles.’
The religious leader recalled how the Naira was once stronger than the dollar and foresaw such a scenario happening again.
Proofreading by James, Ojo Adakole, journalist and copy editor at TimesNow.com.ng.
Source: TimesNow.com.ng
