THE NAIRA CONTINUED TO STRENGTHEN AGAINST THE UNITED STATES OF AMERICAN DOLLAR AT THE PARALLEL MARKET AS IT CLOSED NGN750 PER DOLLAR ON WEDNESDAY FROM NGN763 IN THE PREVIOUS SESSION. HOWEVER, THE NAIRA’S PERFORMANCE WAS LARGELY BEARISH AT THE OFFICIAL MARKET AND INVESTORS & EXPORTER WINDOW, AS IT WEAKENED BY 0.03 PERCENT AND 0.04 PERCENT TO CLOSE AT NGN461.60/USD AND NGN464.67/USD RESPECTIVELY, ACCORDING TO DATA FROM THE FMDQ AND CENTRAL BANK OF NIGERIA. PRESIDENT BOLA TINUBU IN HIS INAUGURAL SPEECH ON MONDAY DIRECTED THE CENTRAL BANK OF NIGERIA TO WORK TOWARDS A UNIFIED EXCHANGE RATEAND TO DIRECT THE FUND FROM ARBITRAGE TO MEANINGFUL INVESTMENT. ”
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