More green shoots for Naira and NGE
Nigeria’s Supreme Court affirms Tinubu’s presidential victory - ending months of legal battles over the presidential race.
https://www.aljazeera.com/news/2023/...ential-victory
In July, Tinubu was also selected to chair the Economic Community of West African States (ECOWAS), putting him at the helm of the African regional bloc.
Trained as an accountant in the US, Tinubu has already decisively introduced key economic reforms that he says will lure investors and make Nigeria a regional economic powerhouse.
Naira up another staggering 18.42% - within a single day
Quote:
Originally Posted by
beacon
Price rising with volume on NGE. Bottom in?
Naira Continues Rebound, Strengthens To N950/$ at Parallel Market.
Simultaneously, the official Investors and Exporters (I&E) window reflected renewed vigour...
An official from the CBN, who wished to remain anonymous, confirmed the settlement of FX forward contracts through 14 banks on Wednesday. He further assured investors that the remaining FX forward contracts would be addressed in the forthcoming week.
“We expect USD/NGN to eventually move lower towards 850 by year-end as the combination of tighter policy, as well as more attractive rates and FX levels deter incremental dollarization and perhaps attract some foreign capital,” JP Morgan asserted. :t_up:
https://www.arise.tv/naira-continues...rallel-market/