Hello Folks,

with the recent development in the forex market, is safe to say that Naira is finally gaining value or will it hit 500-550 by December?

cc onatisi, ymodulus and co, what are you take?

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Hello Folks,

with the recent development in the forex market, is safe to say that Naira is finally gaining value or will it hit 500-550 by December?

cc onatisi, ymodulus and co, what are you take?

No,the coming down of dollar prices is normal around this time.of the year.because usually at this time many ppl outside Nigeria sends money home ,secondly most importers have already bought dollars and sent it abroad for goods purchase they are only waiting to get them and sell,thirdly many ppl come home at this time of the year,many don't leave Nigeria ,if you go to the airports in Nigeria from November till December you will see that flights are usually filled up when coming but not usually full when leaving . So at this time there is usually a large influx of dollars into the system,the prices will still crash further by November ending and really really low by the 25th,but as soon as the festive season is over it picks up again.