Naira Heads Towards N500/U.S. – Morgan Stanley Warns Against Controls

Naira Heads Towards N500/U.S. – Morgan Stanley Warns Against Controls

Nigeria’s foreign exchange market was tension-soaked yesterday, as the Naira raced towards N500/USD1. It closed at N490/ USD1 in the parallel market, with dealers expecting further rise today to hit the dreaded N500 mark. Surprisingly, the Naira appreciated significantly to N305/ USD at the official interbank market same day, although dealers said foreign exchange was […]

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post culled from nigerianpilot.com