Sunday, October 22, 2017 6:30:48 PM- Nigerian Stock Exchange.

  NAIRA recovers to 322 in parallel market


April 11 (Lagos) - Naira gained value slightly against the USD in the parallel market to 322 from 324 last week.

Some analysts are expecting Naira to strengthen as CBN is expected to start softening its stand on forex regulations going forward. 

President has traveled to China where he is expected to negotiate a loan of USD 2 billion and that could also boost the Naira in the short term. 

Crude oil prices gained towards the end of last week and are expected to gain further over the news 2 sessions. If that happens then we can expect Naira to get a boost. 

Inflation figures will be out soon and we are expected to see a number close to 13% so perhanps the CBN is beginning to realize what its flip flops have caused for people on the ground. 

reporting for on Monday, April 11 2016 from Lagos, Nigeria

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