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IMF states Nigerian naira remains undervalued by 25.6% despite recent foreign exchange gainsNaira should trade at approximately N1,130/dollar according to the IMF’s latest assessmentIMF advises CBN on maintaining exchange rate flexibility to address valuation gap
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
The International Monetary Fund (IMF) has revealed what it considers the “fair value” of the Nigerian naira, saying the local currency remains significantly undervalued despite recent gains against the United States dollar across official and parallel foreign exchange markets.
In its latest assessment of Nigeria’s economy, the Washington-based lender said the naira is trading about 25.6 per cent below its value based on the country’s economic fundamentals, even after recording a notable recovery following sweeping foreign exchange reforms introduced by the Federal Government.
IMF says the naira is undervalued at the current exchange rate. Credit: Picture Alliance/ContributorSource: Getty Images
IMF says
