Fitch See CBN depreciate Naira further in 2021, External Reserves rise to $42bn
editorJanuary 17, 2021 5:10 Am Obinna Chima Fitch Ratings has predicted that Nigeria’s external reserves would rise to $42 billion in 2021, higher than the $35.374 billion it stood at the end of 2020. This is according to figures obtained from the website of the Central Bank of Nigeria (CBN). In a report titled, “Depreciatory Pressures on Key Sub-Saharan African Currencies to Lessen,” the global credit rating agency hinged the forecast on its expectation that Brent crude would average $53 per barrel, compared to the $43.1 per barrel recorded in 2020. Moreover, the agency anticipated tha...
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