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.
The currency of Africa’s top oil producer may weaken to between 1,650 per dollar and 1,700 per dollar by mid next year, David Cowan, Citi’s African economist, ex-South Africa said in a note to clients on Wednesday.