The Naira depreciated against the dollar at the Investors and Exporters window on Thursday, exchanging at N430.

The tight trade in the international oil market since this year may have started impacting on the domestic foreign exchange market as positive sentiment strengthens the local currency. 

IN recent months, developments in the Nigerian foreign exchange market have elicited reactions from stakeholders, some of which reflect understanding while others do not. This piece seeks to throw light on the issues relating to foreign exchange, external reserves and naira exchange rate instability.

Former Deputy Governor of Central Bank of Nigeria(CBN), Dr Obadaiah Melafia weekend attributed the dip of the naira in the foreign exchange market to the bad policies of President Muhammadu Buhari’s administration and the tensions across the country.

By Obadiah Mailafia Money makes the world go round. The strength of a country, its prosperity and flourishing, is best measured by the standing of its currency. The American business magnate and politician, Ross Perot, observed that “a weak currency is the sign of a weak economy, and a weak economy leads to a weak […]