Citi Sees Rate Cut Putting Naira Under Modest Pressure Next Year

Citi Sees Rate Cut Putting Naira Under Modest Pressure Next Year

Nigeria’s naira could come under modest pressure next year after stabilizing in 2025 as the nation’s central bank cuts rates gradually and crude prices fall, Citigroup Inc. said.

Citi Projects Naira To Depreciate To ₦1,700/$ By Mid-2026 As CBN Begins Rate Cuts

Citigroup Inc. has projected that Nigeria’s naira could face modest pressure in 2026 after stabilizing through 2025 following the Central Bank of Nigeria’s (CBN) first interest rate cut in five years and expectations of weaker oil prices. In a note to clients, David Cowan, Citi’s African economist (ex-South Africa) said the local currency of Africa’s […] The post Citi Projects Naira to Depreciate to ₦1,700/$ by Mid-2026 as CBN Begins Rate Cuts a…