Amid pressure on naira, experts proffer options to shore up forex | The Guardian Nigeria News

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• Naira risks worse plunge • Market differential at all-time high of N173/$
• Political risk, global move towards higher interest rates worsen situation
• Dollarisation of investments, savings intensifies
• Naira’ll hit point of no return if FX is liberalised, Fasua warns

Confronted by depleting foreign exchange reserves, dwindling foreign capital, heightened political risk, narrowing fiscal space and alleged poor performance, naira risks a worse level of debasement than the country has witnessed in recent times.

Analyses and expert opinions suggest that the monetary authority may have exhausted its tools as the economy battles unending fiscal drawbacks.

In the investment market, there are fears that the fiscal frameworks would become even weaker in the coming months as political activities and tension increase. Also, the market faces renewed pressure from foreign investors who will be repatriating their dividend proceeds in the coming months.

The rising political unease,…



Source: Guardian Newspaper