Feb 23 (Lagos) - Naira recovered to 365 against 1 USD from 375 yesterday. According to a trader many people are now aligning with the governments position on no devaluation.
Naira can still be made stronger if the CBN takes up the issue of oversupply of Naira in the market due to low interest rate environment.
The CBN should increase interest rates to support the Naira. Returning Naira to 220 levels is not out of reach of the government if crude oil prices can rise to $45 levels.
reporting of easykobo.com on Tuesday, Feb 23 2016 from Lagos, Nigeria
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