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Naira up another staggering 18.42% - within a single day
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.
https://www.arise.tv/naira-continues...rallel-market/
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