The naira trades between a rate of 1,400 N and 1,440 N per US dollar on the official and unofficial exchange markets, after cancelling the gains made in March that saw it reach a peak of 1,000N. The currency thus became the best performing currency in the world in March & worsened; the worst in April as dollar inflows became scarce

Pour sa part, l 'inflation accelerated to reach 33.2% in March 2024, against 31.7% in February 2024, according to the latest data from the National Bureau of Statistics (BES). According to Charlie Robertson, macro strategy manager at FIM Partners UK Ltd, “perhaps a further rise in rates could help encourage a stronger naira, which is the best way to bring down inflation.” Most analysts expect the interest rate, also known as the monetary policy rate (MPR), to rise again as the MPC meets on May 20 and 21