Emerging Markets In-Focus: Nigeria & South Africa

Nigeria Nigerian President Muhammadu Buhari is due to sign off the revised 2020 budget today which was passed by lawmakers in June | The revision includes a benchmark oil price for 2021 at $35 rolling to $40 for 2022 and 2023.

South Africa Manufacturing output in South Africa fell 49.4% year on year in April during the nationwide lockdown | The Rand remains under pressure as emerging markets retreat with the downbeat economic data adding to the negative global sentiment.

To discuss how the above may affect your money transfer requirements, please contact your Currency Dealer at Heritage Pay on +44 (0) 207 117 2934.

None of the information in this article is, nor should be construed as financial advice. All foreign exchange transactions involve risk and you should always seek your own independent financial advice before entering into any foreign exchange transaction.