Deutsche Bank adds Nigeria to Frontier FX Watchlist, bets on naira gains
Deutsche Bank AG has added Nigeria to its frontier foreign exchange monitor, signalling growing investor interest in the naira amid expectations that the currency could strengthen further against the US dollar. The post Deutsche Bank adds Nigeria to Frontier FX Watchlist, bets on naira gains appeared first on Nairametrics .
Deutsche Bank has added Nigeria to its Frontier FX Watchlist, signaling growing investor interest in the naira. The bank considers the naira undervalued and attractive for carry-trade investors who seek to profit from differences in interest rates between currencies. In September, the Nigerian naira appreciated by 0.45% against the US dollar, strengthening from N1,335.50/$ at the end of August to N1,329.50/$ at the end of September.
Deutsche Bank's decision comes after global index provider FTSE Russell reclassified Nigeria from Unclassified to Frontier Market status, effective September 21, 2026.
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