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NGN/USD: Naira Set for Strongest Annual Gain Since 2018 Despite Elections

Source: Bloomberg

Currency & FXEnergy Markets & PricesEconomic DataElections & Domestic Politics

Nigeria’s naira is set for its best performance in nearly a decade, supported by rising USD inflows from higher oil prices and stronger remittances. Analysts say these inflows should help cushion the currency against election-season political risks that typically weigh on the naira.

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