Market News
Naira Sustains Rally, Dollar Gains As Iran Talks Teeter - CHANNELS TV
The naira has made a notable comeback against the US dollar in the first half of May, dropping significantly below the psychological mark of N1,400/$.
In fact, it is now testing lower support levels like N1,350/$ mark.
The currency may strengthen below the N1320/$ area if the NGN bulls maintain their bullish momentum.
According to recent news, there has been a significant increase in Forex inflows from foreign investors, exporters, and oil companies.
Market participants explain that the attractive returns on the Nigerian debt market attracted foreign investment, leading to the availability of Naira supporting funds.
