Naira Don Shift Small: E Don Drop Weiyah!

My people, na so e be, naira don shift small this week as e show sign of wahala for foreign exchange market. On Thursday, e drop from 1,358.28 naira per dollar to 1,366.05 naira per dollar. Na so 0.57% decline just waka enter. But no worry, naira still strong pass when e show face for early week as e begin for 1,390.36 naira per dollar on Monday. White man dey call am growth, we go just call am small small improvement.

As per report, even though naira dey drop this week, e still dey show say e dey gain strength. We go fit talk say na only last part of January na im e dey dance above 1,400 naira/$, but now e don dey try hold ground better. On Thursday, e dey trade for 1,370 naira/$ maximum and 1,361.80 naira/$ minimum. Dis stability na good sign for our pocket.

Analysts wey sabi matter don yan say as the gap between highest and lowest rates dey close for market, e mean say volatility dey reduce, abi? Dis one go make authorized dealers dem get more confidence. Na so e be when demand dey ease small, no be wahala like before.

Meanwhile, for parallel market, na different jaga jaga dey happen. Cowry Assets Management report say naira just dey rest flat at 1,431 naira/$, but you know how our market be, e go still find way to change. Analysts from CardinalStone still report say naira don drop small by 0.14% there, close at 1,457.00 naira/$. Dis na the story for street, make we dey watch am.

But make we no fear too much, analysts dey predict say naira go dey volatile but overall e go balance. Small appreciation fit show face as we dey enter February. E get as e be, with the kain strong external reserves and crude oil money wey dey come, things fit balance well. AIICO Capital don talk say downside wey fit come from external shocks no go too much for this near term.

So, my people, we go just dey watch how this naira matter dey play out, no forget say e fit still change anytime. Make we dey hopeful, o! Naira no fit just dey waka anyhow, we go hold am tight!