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Coronation Research - The exchange rate and your questions
(Source: Coronation Research, Date: 21-May-2024)

TUESDAY, 21 MAY 2024

The exchange rate and your questions

Should savers use their Naira to buy US dollars at these rates? Should they keep their Naira to earn juicy yields available on T bills and OMO bills? Or should they even sell their US dollars to do this? These are the three main questions we received, prompted by our article last week on the Naira's fair value against the US dollar. While we have no definitive answers, we can map out the implications of each course of action, which is instructive. See pages 2 and 3 for our research.



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