- 15th Edition Connected Banking Summit – Innovation and Excellence Awards 2024
- FTSE 100 back in the red amid inflation update and earning season ramp up
- Rethinking Card Issuing in an Age of Fintech Disruption
- 5th Edition Connected Africa- Africa's Premier Telecom Summit
- BRVM Investment Days Roadshow Return to Johannesburg
Nigerian Naira Is Overvalued by 20% vs USD Says Bank of America
LAGOS (Capital Markets in Africa) – “A 20% depreciation in the NAFEX/NGN spot exchange rate is still needed to reach fair value, despite last year’s partial devaluation and the recent moves in key FX windows,” Bank of America analysts Yusuf Rukayat and Gabriele Foa say in a note to clients. They recommend avoiding naira debt, even with 1-year T-bills yielding 22% and FX-hedged trades yielding 12%. “While NGN carry is similar to EGP, we find…
Read More