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Naira Strengthens Against Dollar For Second Consecutive Day - Business - Nairaland

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Naira Strengthens Against The Dollar As Bdc Intervention Goes On / Naira Strengthens Further Against Dollar On Parallel Market / Speculators Get Their Fingers Burnt, Naira Strengthens To N310/$ (2) (3) (4)

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Naira Strengthens Against Dollar For Second Consecutive Day by ijaw1stson: 12:59pm On Mar 30, 2016
The Nigerian currency gathered steam against the dollar on the parallel market for the second day running as the naira remains at N318.
On Tuesday, there was mild relief for forex dealers as the naira improved in the black market, rising up from Monday’s N320.
And on Wednesday, March 30, the amount steadied against the American currency, standing at an impressive N318/dollar albeit with some doubts in some sections of the market.
In a chat with NAIJ.com’s corespondent on Wednesday morning, it was revealed that the amount, as speculated by some operators, has continued to remain strong, raising hopes on the possibility of having a reduction in the prices of goods in the country.
“Yesterday I told you that the amount has improved, today, it has steadied at the same rate, although some are still selling at N320.
“Here on the Mainland, you cannot buy it for anything lesser than N318 which is the rate that has been in circulation for the past two days. And like I told you early this week, there is a possibility of having a continuous rise of the naira against the dollar.
“Although the reasons cannot be state categorically, the signs are clear that we are going to witness a continuous fall of the dollar against the naira,” the impeccable BDC source noted.
https://www.naij.com/782226-amazing-naira-retains-strength-dollar-second-consecutive-day.html?source=index_main

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Re: Naira Strengthens Against Dollar For Second Consecutive Day by Nobody: 1:31pm On Mar 30, 2016
Please if this is what you call strengthen then you are a joker . This level of strengthening is only relevant for Forex traders not ordinary masses.

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