Abuja, Nigeria – Naira don end October wey fine, as e appreciate by ₦15.33 against the U.S. dollar for Friday, October 31. Currency dealers for Abuja don talk say naira dey trade at ₦1,440/$1 for buying and ₦1,450/$1 for selling, compare to ₦1,465/$1 wey dem exchange on Thursday. Na serious matter o, this one mean say naira don shine small small!
For the official market, naira also show muscle as e strengthen to ₦1,436/$1, wey na big improvement from ₦1,444/$1 wey e dey yesterday. Analysts don attribute dis good news to the Central Bank of Nigeria (CBN) interventions wey dey aim to increase market liquidity and stabilize the forex wahala.
But make we no carry our hopes too high o. Dem dey warn say dollar shortage still dey plenty greeg, import demand dey strong, and policy wahala fit still put our currency stability for danger. Naija no dey rest, chook eye for wetin go happen next!
As e stand, naira dey receive some fresh air for the forex market, but make we still dey watch am closely, because the economic landscape dey change as fast as light! People wey dey import goods go still find am hard to source dollars without paying plenty for the parallel market. And those wey dey import goods, no go enjoy am as much as dem wan.
Look around, see as many people dey hustle to find dollar for black market. Naija traders no dey miss opportunities! Every small change dey mean plenty for dem. Naira don bend down many times this year, but e dey rise again, just like our spirits when we dey enjoy small chops for the village after plenty wahala!
So make we raise our cups of palm wine to this small victory for naira. E no dey easy to maintain stability in this kind forex wahala, but we dey hopeful say CBN go continue to run show well as e dey try manage things inside this economic roller-coaster wey dey happen!
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