JP Morgan, a global financial services company based in the United States, predicted on Wednesday that by December 2023...
JP Morgan, a global financial services company based in the United States, predicted on Wednesday that by December 2023, the value of the naira would be valued at N850/$ at the Investors’ and Exporters’ Forex window.
“The interbank FX rate has risen in recent days to over 900, from 750, thereby significantly closing the gap to the parallel rate which is now just above 1,000. In addition to the policy actions, JP Morgan averred that authorities may need to consider further measures such as requiring commercial banks to adhere to regulatory limits on FX net open positions.
On the fiscal side, the financial services firm advised the government to require all taxes to be paid in local currency.
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