Naira will appreciate to N1200 against USD in 12 months, says Goldman Sachs

Goldman Sachs believes Naira will appreciating to N1,200 versus the dollar in the next twelve months. This was said in a Goldman Sachs report labeled Nigeria- Turning the Corner.

The report indicated that the prediction is hinged on a mixture of positive actual rates, capital inflows, and facts of a shift to a more established policy set-up.

It stated, “we think that Nigeria is turning the corner following its recent currency crisis.”

“These developments have prompted us to shift to a constructive outlook for the Naira, which our FX strategists expect to appreciate to NGN 1200 vs. the USD in 12 months,” the report said.