Naira stregthened to the highest level in 2 months after hitting N196.68 surpassing the previous high of N197.45 recorded last month (Official).

surprisingly, the Naira achieved this amidst a free fall in brent crude. Brent fell to its lowest in 2 years after hitting $42.53.

Traditionally, when brent falls in price, Naira depreciates since it accounts for over 80% of Nigeria's foreign exchange earners.

If this new trend continues, King Naira is destined to stregthen further.

Lets go there

Is it $196.88 and $197.45 or N196.88 and N197.45

quote author=tonjeola post=37287855]Is it $196.88 and $197.45 or N196.88and N197.45[/quote]

N196.68 and N197.45. Corrected However, this is the link: ://www.investing.com/currencies/usd-ngn-historical-data

walexy30:
Naira stregthened to the highest level in 2 months after hitting N196.68 surpassing the previous high of N197.45 recorded last month (Official).

surprisingly, the Naira achieved this amidst a free fall in brent crude. Brent fell to its lowest in 2 years after hitting $42.53.

Traditionally, when brent falls in price, Naira depreciates since it accounts for over 80% of Nigeria's foreign exchange earners.

If this new trend continues, King Naira is destined to stregthen further.

How can Naira fall below its pegged rate of N197 to a U.S dollar?