Dec 22 (Lagos) - Naira recovered slightly against the USD to 270 from previous 272. It has already hit 280 last week.
While the recovery is not substantial compared to the fall it is welcome development.
Any recovery of the Naira is welcome.
There is also a chance that it was crossed its fair value in parallel market because importers just keep on buying in parallel market at whatever rate they get according to dealers.
So credit should go to CBN which has been a receiver of much criticism from various quarters over the past 6 months.
However whether Naira can recover more will be on everybody mind and most people are worried about it crossing the 300 mark in the new year going by what has happened in the past month. Hope and pray it does not go there.
reporting for easykobo.com on Tuesday, Dec 22 2015 from Lagos, Nigeria