- Currency gained at parallel market following forex settlement
- Nigeria clearing matured forex contracts to stabilize currency
Nigeria’s naira jumped against the dollar on the parallel market and on crypto exchanges on Friday, a day after authorities said they took steps to clear a backlog of matured foreign-currency forward contracts that have hampered dollar inflows.

The local currency soared 10% to 1,035 a dollar on the parallel market, according to Abubakar Mohammed, chief executive officer of Forward Marketing Bureau de Change Ltd., which compiles exchange-rate data. It was quoted at 819.10 on Binance Holdings Ltd.’s platform, a 28% gain from the previous day, as of 2:15 p.m. local time.

https://www.bloomberg.com/news/articles/2023-11-03/naira-poised-to-strengthen-on-parallel-market-after-crypto-gain?utm_source=website&utm_medium=share&utm_campaign=twitter

$ will get to 2k before december gang in the mud