Naira Appreciates After Goldman's Prediction Of 1k/$ Rate
  • Home
  • ARTICLES
  • NEWS
  • BUSINESS
  • EDUCATION
  • ENTERTAINMENT
  • HEALTH
  • POLITICS
  • TECHNOLOGY
  • CRIME
  • METRO
  • SPORTS
  • NEWS EXTRA
  • JOBS & SCHOLARSHIPS
  • TRENDING VIDEO
  • ABOUT US
  • CONTACT US
  • PRIVACY POLICY
  • TERMS OF USAGE
  • ADVERTISE WITH US
DAILY GIST
  • Home
  • ARTICLES
  • NEWS
  • BUSINESS
  • EDUCATION
  • ENTERTAINMENT
  • HEALTH
  • POLITICS
  • TECHNOLOGY
  • CRIME
  • METRO
  • SPORTS
  • NEWS EXTRA
  • JOBS & SCHOLARSHIPS
  • TRENDING VIDEO
  • ABOUT US
  • CONTACT US
  • PRIVACY POLICY
  • TERMS OF USAGE
  • ADVERTISE WITH US
No Result
View All Result
  • Home
  • ARTICLES
  • NEWS
  • BUSINESS
  • EDUCATION
  • ENTERTAINMENT
  • HEALTH
  • POLITICS
  • TECHNOLOGY
  • CRIME
  • METRO
  • SPORTS
  • NEWS EXTRA
  • JOBS & SCHOLARSHIPS
  • TRENDING VIDEO
  • ABOUT US
  • CONTACT US
  • PRIVACY POLICY
  • TERMS OF USAGE
  • ADVERTISE WITH US
No Result
View All Result
DAILY GIST
No Result
View All Result

JUST IN: Naira Appreciates Massively After Goldman’s Prediction Of 1k/$ Rate

Adam PR by Adam PR
April 13, 2024
in BUSINESS
0
FX, EFCC, Bureau De Change, BDCs Agree To Spoil Back Market Rate. Naira Dollar, CBN, Dollars
21.1k
SHARES
21.1k
VIEWS
Share on WhatsAppShare on TwitterShare on Facebook

The Nigerian currency, Naira has again appreciated at the official market against dollar.

This is coming after the global investment banking, securities and investment management firm Goldman Sachs Group predicted a Naira-dollar exchange rate of 1000/$ or even below on coming weeks.

Goldman Sachs had acknowledged the resurgence of the Naira, rating it as one of the best performing currencies currently around the globe.

This bullish forecast, it says, follows capital inflows and interest rate adjustments, aiding the Naira recovery from substantial losses incurred due to two devaluations since June, following the government’s relaxation of currency controls.

Goldman Sachs Group Inc. is a highly regarded multinational investment bank and financial services company reputed for its diverse range of financial services.

Economist Andrew Matheny of Goldman Sachs said the Naira could reach 1,000 or even dip below to the dollar.

ALSOREAD

Trump’s Trade War With Nigeria Crashes Naira To A 4-Month Low

JUST IN: Senate Passes Bill To Ban Dollars In Nigeria

EXPLAINER: What Removal Of FX Subsidy Means For Nigerians

Naira Nears N2000/dollar At Black Market After CBN’s Intervention

FULL LIST: CBN Disqualifies 6 Popular Nigerian Banks From FX Intervention

“This probably can run further; we would see an extension of the move to 1,000 and maybe even sub-1,000,” Matheny said in an interview.

Since Goldman’s call in February, “six weeks have gone by and they’re continuing to hold the line, so that’s encouraging,” he said.

The report credits President Tinubu’s decisive leadership and the work of his economic team anchored around the ACE team – Zacheus Adedeji, chairman of the Federal Inland Revenue Service; Olayemi Cardoso, CBN Governor; and Olawale Edun, Minister of Finance/Coordinating Minister of the Economy) for these positive changes and reforms like eliminating fuel subsidies which aims to revitalise the economy.

Goldman Sachs’ positive outlook reflects optimism for sustained growth and stability under President Tinubu’s administration.

Following Goldman’s prediction, the exchange rate between the Naira and the Dollar at the official window rose by 7.7% on Friday to close the week at N1,142/$1.

This marks the highest closing rate between the Naira and the Dollar in over 10 weeks, as Central Bank policies continue to have a positive impact on the local currency.

The exchange rate seems to be nearing the sub-N1,000 target, which many believe is the preferred rate for the Central Bank.

Several reports also suggest that the apex bank is targeting an exchange rate below N1,000/$1, indicating that it believes the local currency remains undervalued in the short to medium term.

DAILY GIST reported that the apex bank issued a circular to Bureau De Change operators (BDCs), informing them of the sale of $10,000 to each BDC at a rate of N1,101/$1.

FOLLOW US ON SOCIAL MEDIA

TWITTER — https://x.com/dailygistonline

THREADS —https://www.threads.net/@dailygistonline

FACEBOOK — https://m.facebook.com/oauvoices

INSTAGRAM —https://www.instagram.com/dailygistonline/ 

 

FOR ADVERTS, PUBLICATION AND PROMOTIONS, CONTACT DAILY GIST ON WHATSAPP – 09061956151

Share This News

Tags: DollarFXNairaOfficial Market
Previous Post

BREAKING: Nigerian Breweries Suspend Operations In Production Plants

Next Post

Why I Love Bobrisky – Bbnaija Star, Tolanibaj Reveals

Adam PR

Adam PR

AdamPR is a young Blogger, Publisher, Web Designer. For Adverts and Publications, He can be reached on WhatsApp - 09061956151

Related Posts

BREAKING: Dangote Crashes Petrol Price
BUSINESS

Relief For Nigerians As Dangote Refinery Crashes Price Of Cooking Gas

October 7, 2025
BREAKING: Dangote Crashes Petrol Price
BUSINESS

Dangote Refinery Blasted Over Continuous Reduction In Petrol Prices

September 14, 2025
Top 10 States That Borrowed From CBN To Pay Salaries
BUSINESS

JUST IN: CBN Approves Merger Of 2 Popular Nigerian Banks

September 1, 2025
APPLY: FG Rolls Out ₦50,000 Cash Grant For Business Owners Nationwide
BUSINESS

APPLY: FG Rolls Out ₦50,000 Cash Grant For Business Owners Nationwide

August 26, 2025
NNPC Announces Reduction In Petrol Price
BUSINESS

Nigerian Filling Stations Crash Fuel Price To Compete With NNPCL, Others

August 21, 2025
BREAKING: Dangote Crashes Petrol Price
BUSINESS

Dangote Petroleum Refinery Gets New CEO

August 2, 2025
Next Post
Why I Love Bobrisky – Bbnaija Star, Tolanibaj Reveals

Why I Love Bobrisky – Bbnaija Star, Tolanibaj Reveals

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

TRENDING NEWS

  • VIDEO: Fairytale Wedding Crashes After Wife Finds $£x Tape Of Best Friend With Hubby

    VIDEO: Fairytale Wedding Crashes After Wife Finds $£x Tape Of Best Friend With Hubby

    25114 shares
    Share 10046 Tweet 6279
  • VIDEO: Lady Strips Half Nak3d As She Attempts To ‘Fight’ A Man Inside Market

    21820 shares
    Share 8728 Tweet 5455
  • FULL LIST: 15 Popular Nigerian Celebrities With Leaked Nud£/S£x Videos

    34693 shares
    Share 13877 Tweet 8673
  • VIDEO: Drama Ensues As Man And Woman Get Stuck During S3xual Interc0urs£

    21945 shares
    Share 8778 Tweet 5486
  • Kashim Shettima Vacates Seat As Vice President Of Nigeria

    21586 shares
    Share 8634 Tweet 5397
  • Nigerian Woman Whose Sex Video With A Married Man Went Viral Speaks

    22321 shares
    Share 8928 Tweet 5580
  • VIDEO: Tenant Caught Landlord Red-handed Sl££ping With His Wife & Daughter

    22494 shares
    Share 8998 Tweet 5624
  • Japa: 10 Frequently Asked Visa Interview Questions And How To Answer Them

    20727 shares
    Share 8291 Tweet 5182
  • Nigerian Lady Cuts Off Husband’s Hands For Buying iPhone 16 For Side Chick

    22693 shares
    Share 9077 Tweet 5673
  • VIDEO: Man Flogged Mercilessly For Secretly Recording Intim@te Moments With 3 Girls

    21317 shares
    Share 8527 Tweet 5329

DAILY GIST reports Latest News in Nigeria and aims to keep Nigerians updated and informed with Reports and Informations in the aspect of Education, Politics, Health, Business, Technology, Jobs, Entertainment. etc

  • Home
  • ABOUT US
  • CONTACT US
  • PRIVACY POLICY
  • TERMS OF USAGE
  • ADVERTISE WITH US
  • DESIGNED BY ADAMPR
  • Privacy Policy

DAILY GIST © 2020 | All Rights Reserved

No Result
View All Result
  • Home
  • ARTICLES
  • NEWS
  • BUSINESS
  • EDUCATION
  • ENTERTAINMENT
  • HEALTH
  • POLITICS
  • TECHNOLOGY
  • CRIME
  • METRO
  • SPORTS
  • NEWS EXTRA
  • JOBS & SCHOLARSHIPS
  • TRENDING VIDEO
  • ABOUT US
  • CONTACT US
  • PRIVACY POLICY
  • TERMS OF USAGE
  • ADVERTISE WITH US

DAILY GIST © 2020 | All Rights Reserved