Macro Analysis /
NigeriaNigeria: The factors driving the Naira’s collapse on the parallel market
After just breaking through 600/US$ in mid-May, the NGN has exploded to 700/US$ on the parallel market yesterday
Explanations include higher FX demand for school fees and campaigning, rising money supply and panic buying
Parallel depreciation will likely persist without interventions to balance market, which we think are unlikely
Patrick Curran
Senior Economist @ Tellimer Research
Contributors
28 July 2022
Published byTellimer Research
