Hope For The Naira According To CBN Analysis

By Ikenga Chronicles March 11, 2019

Hope For The Naira According To CBN Analysis

The Central Bank of Nigeria’s (CBN) Business Expectations Survey of February hints that the naira will appreciate against the dollar this month more than the current N357/$1.

According to the CBN report released last week, the February 2019 Business Expectations Survey (BES) was carried out during the period of February 11-15, 2019 with a sample size of 1050 businesses nationwide.

A response rate of 97.4 percent was achieved, and the sample covered the services, industrial, wholesale/retail trade, and construction sectors.

Highlights of the report show that respondent firms expect the Naira to appreciate in the current month (February 2019) and the next months.

The respondents also project that inflation will rise in both the next six months and the next twelve months even as borrowing rates will rise in March 2019 and the next twelve months.