The naira has been tipped to depreciate by between 10 and 20 per cent next year as the impact of falling crude oil prices and foreign exchange reserves persist.Local and foreign analysts predicted that a decline by 10 per cent would take the naira to about N400 to dollar, while a 20 per cent drop would see it at around N450 to dollar.According to  Bloomberg survey of investors, the local currency may be marked down by up to 20 per cent in 2021.
According to the survey, the drop in foreign reserves and lower oil prices will probably force the Central Bank of Nigeria (CBN) to devalue the naira, seen as one of the world’s most stable currencies by next year.The continued stability of the naira against the dollar has continued to spark speculations, with many analysts predicting that............
SOURCE https://bbpresh.com/analysts-foretells-naira-devaluation-to-n400/