The currency had maintained stability against the U.S dollar in the past couple of weeks at N745/$- N746/$ before its recent appreciation.
Speaking to TheCable in the Victoria Island area of Lagos, Bureaux De Change operators said they purchase the greenback at N730/$, make a gain of N7 and then sell at N737/$.The street traders attributed the appreciation of the local currency to low demand for dollars by customers. Also, the naira gained 0.08 percent to close at N462.88/$ at the investors and exporters forex window on Tuesday, according to data published by FMDQ, a platform where FX is officially traded.Advertisement
The Central Bank of Nigeria has continued to intervene in the official forex market from the external reserve in order to maintain the stability of the naira., said the economic slowdown in developing countries such as Nigeria would persist for years due to inflation, currency depreciation, rising debt service costs, and the collapse of international reserves.
737 is appreciation. If Nigerians are alive sef we for don die
Don't know if I should laugh or cry
😂😂😂😂😂😂. Whoever posted this rubbish will not sleep well
Osibanjo has taken care of the economy lolz. The issues are: 1. Bola Tinubu's 1993 Narcotics Trafficking & Money Laundering Case, n $460,000 Forfeiture 2. 25% in FCT 3. Forged Certificate 4. INEC not following its guidelines 5. Shettima's Double Nomination 6. Election Rigging