The naira has appreciated to N970 per dollar on the black market, as government’s plans to shore-up dollar liquidity in the foreign exchange (FX) market, triggered positive sentiments. Street traders were already buying dollars at the rate of N950 at the weekend as against N1,130 bought on Thursday last week. Speculators who have been hoarding dollars for arbitrage are now offloading the same to avoid losing money. “There are enough dollars in the market now. People are now bringing out dollars. Dollar rate will fall further next week,” Abubakar Ibrahim,…
Read MoreNAIRA APPRECIATES AT PARALLEL MARKET, EXCHANGES AT N970/$
