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Nigeria's naira is expected to ease on the black market after the central bank sent it lower on the futures market last week, as dollar shortages crippled the economy, traders said. The naira fell to472 per dollaron the unofficial market on Thursday, weaker than the 388.36 on the over-the...
Three indicators -- the widely-used black-market rate, the central bank’s real effective exchange rate, and “our own currency fair value analysis” -- shows the naira is 20% overvalued, economist Tatonga Rusike said in a note to clients on Tuesday. “We see scope for it to weaken by...