Finally, Naira Strengthens Against The Dollar - 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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| Finally, Naira Strengthens Against The Dollar by tsamson(m): 10:12pm On Dec 19, 2015 |
The naira on Friday finally strengthened against
the dollar after weeks of free fall at the parallel
market.
The currency gained N10 to exchange at N270 to
the dollar after it nosedived to N280 on Thursday.
At the official interbank window, it gained N0.03
to close at N196.97 to the dollar.
Traders at the market told the News Agency of
Nigeria (NAN) that currency speculators were
afraid that the naira could sell below their
expectations and this forced them to release
foreign exchange for sale.
Meanwhile, Dr Evans Osabouhien of the
Department of Economics and Development
Studies, Covenant University, Ota, Ogun, has said
that during the Yuletide, Nigerians living abroad
would be coming home with a lot of foreign
currencies.
Osabouhien said that this would help to reduce
the pressure on the foreign exchange market and
strengthen the naira. Lalasticlala Seun |
| Re: Finally, Naira Strengthens Against The Dollar by Nobody: 10:15pm On Dec 19, 2015 |
we shall get there |
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