Naira Support: A New Hope For Our CurrencyNaira Support: A New Hope For Our Currency
Posted on November 14, 2023
Naira rose by N200 against the U.S. Dollar on Friday 10th November, 2023, as the Tinubu government gets help from Saudi Arabia after a falling record from the Nigeria Autonomous Foreign Exchange market.
Data shows an appreciation of a 21.7% increment after a low record in the preceding trade session on Thursday, the 9th of November.
The value of the Naira improved as Saudi promised to fix the currency by engaging in more dollar exchange to fix the forex scarcity and also promised to see Nigeria thrive under President Bola Tinubu to realize its full potential as the economic giant of Africa again.
In addition, an unofficial market for the dollar exchange rate has been set up but is yet to be announced to the public but our currency has improved in the official exchange market.
In the same vein, Naira still battles with other currencies of the world but financial experts have proffered solutions to the depreciation of our currency.
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