The FOREX market sees a 50% increase in USD supply while the Naira continues to rise.
US dollar supply surged by 50 per cent to $248.75 million as Nigeria’s currency, the Naira, continued its appreciation on Thursday at the foreign exchange market. FMDQ data showed that USD transactions increased to $248.75 million on Thursday compared to $122.18 million recorded on Tuesday. The development led to the continued appreciation of Naira, which stood at N1608.98 per US dollar compared to N1,615.94 on Wednesday. At the parallel market, […]
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