The International Monetary Fund (IMF) has assessed the value of Nigeria's naira, indicating that it is currently undervalued by 25.6%. The organization has proposed a fair exchange rate of N1,130 per dollar, which reflects the need for adjustments in light of ongoing foreign exchange reforms in the country. Additionally, the IMF has urged the Central Bank of Nigeria (CBN) to adopt a more flexible approach to the exchange rate to better align with market conditions.
Related Articles
Don't miss out on breaking stories and in-depth articles.