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LequteMan
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Nigeria - Experts have predicted a further appreciation in the value of the Naira following its recent rise after a peaceful presidential election in the country.
According to Punch, the naira will rise further against the dollar on the parallel market this week, analysts and foreign exchange dealers have predicted.
They argued that the peaceful outcome of the presidential election and the hard stance of the President-elect, Muhammadu Buhari, against corruption and economic leakages had boosted investor confidence in the economy.
The Acting President, Association of Bureau de Change Operators of Nigeria, Alhaji Aminu Gwadabe, told our correspondent he expected the local currency to rise further this week and beyond.
Gwadabe, who said the naira had firmed to 204 against the dollar on Thursday, believe the trend would continue this week, adding that “the naira may appreciate to something below 197 currently at the interbank market.”
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#Naira #Dollar #Nigeria
According to Punch, the naira will rise further against the dollar on the parallel market this week, analysts and foreign exchange dealers have predicted.
They argued that the peaceful outcome of the presidential election and the hard stance of the President-elect, Muhammadu Buhari, against corruption and economic leakages had boosted investor confidence in the economy.
The Acting President, Association of Bureau de Change Operators of Nigeria, Alhaji Aminu Gwadabe, told our correspondent he expected the local currency to rise further this week and beyond.
Gwadabe, who said the naira had firmed to 204 against the dollar on Thursday, believe the trend would continue this week, adding that “the naira may appreciate to something below 197 currently at the interbank market.”
click here to read more
#Naira #Dollar #Nigeria
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