Macroeconomic Forecast Exchange Rate To Reign In Inflation

November 2007 | Macroeconomic Forecasts

BMI View: We forecast strengthening of the naira to NGN116/US$ by end 2008 on the back of the 2008 draft budget's assumption that the average exchange rate next year will be NGN117/US$. We see this trend helping to keep headline inflation down to a manageable 5.0% next year, despite high economic growth and oil prices.

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