dollar drought

Analysts bet on Nigerian firms’ resilience against ailing naira

By Tobi Tunji

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Posted on August 17, 2023 07:13

© New 1000 naira note. REUTERS — New 1000 naira note. REUTERS

There may be limited depreciation depending on the liquidity situation in the forex market, but it won’t be the kind of losses in Q2, say experts.

Nigeria’s new foreign exchange policy has led to huge exchange rate losses for some of the country’s largest companies. But the worst is over, according to analysts who say that the resilience of Nigerian companies will make them adapt over time.

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