Economic and financial experts say the naira may not fall below 475 against the United States dollar between now and end of December.

They based the prediction on declining dollar demand and efforts being made by the Central Bank of Nigeria to boost supply of foreign exchange.

The experts spoke in separate interviews on the outlook of the naira.

“It appears the exchange rate has got to the peak, which is something around 470/dollar. I think the naira may not go beyond 475/dollar between now and end of December,” a currency strategist at Ecobank Nigeria, Mr. Kunle Ezun, said.

He added that holidaymakers returning to Nigeria for Christmas would also make dollar supply to increase.

According to Ezun, this will reduce the currency volatility created by dollar scarcity.
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