Naira Don Shine Against Pound And Dollar for Market!

My people, make I gist you wetin dey happen for our currency market sharp sharp!

This week, naira don dey flex muscle well-well against foreign currencies. E be like say di British pound no fit stand our naira again as e meet some serious pressure. CBN talk say naira dey trade for N1,806/£1 for di official market, wey mean say e don get some strong hold since e break below N1,900/£1.

For di parallel market, di story no different. We sabi say di black market na wetin many people dey rely on, and as we speak, naira dey sell for less than N1,900/£1 and range between N1,850/£1 to N1,890/£1. This one no be good news for di British pound wey dey suffer under rising unemployment and inflation wahala for di UK.

As for our own naira, e don show say e fit stand tall. We get report say inflation for UK don drop to 3.0%, but di jobless rate don rise to 5.2%, making dem expect say Bank of England go need cut interest rates soon. If dat happen, e go further weaken di pound. Na wetin we dey see for market now.

As things dey hot for UK, naira dey smile as plenty people dey rush for naira-denominated assets. Omo! Di currency don jump well like say na Olympic athlete, boosting market value by $20 billion before dem face di serious devaluation wey happen in January.

President Bola Tinubu and im team don dey push for better investment strategies. Dem no wan make naira dey suffer again like before. Dem don release new orders wey go help make sure say money dey flow well for di economy.

But, e no too rosy all di way, as di Minister of State for Finance, Mrs Doris Uzoka-Anite don warn say if dem no manage di influx of oil revenues well, e fit cause inflation and stress di exchange rate. Na big warning wey she throw for di FAAC meeting.

In di crypto world, na different ball game. Market dey sag as software stocks dey crash. Bitcoin don drop by 1.7%, Litecoin don waka down by 1.8%, and Cardano don suffer 1.5% wan pply crash. Only Ethereum dey shine small as e increase by 0.2%. No be small matter at all!

So, as we dey keep eye on di market movements, make we dey prepare for wetin fit drop from di policymakers. Money dey dance for Nigeria, but we need wisdom to follow di rhythm.