Naira to sustain rally after 46% gain against dollar, says Rewane

The naira will sustain ongoing rally at both official and parallel markets as dollar liquidity rises, Managing Director/CEO, Financial Derivatives Company Limited, Bismarck Rewane, has predicted.

Rewane, also an economist, said the naira had since February, appreciated significantly across the markets, fueled by sanitisation of the forex market, an increase in forex supply and a fall in the demand for dollars. The MPC also met on March 24/25, agreeing to hike interest rates by 200bps to 24.75 per cent per annum to keep prices in check.

Nigeria Latest News, Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Rewane names Naira appreciation against USD, two others as good news for Nigerian economyThe Managing Director/Chief Executive Officer of Financial Derivatives Company Limited, Bismark Rewane, said the continued Naira appreciation, forex backlog clearance, and refinancing of existing bond obligations are good news for Nigeria's economy. Rewane disclosed this on Thursday as a Channels Television's Politics Today guest.
Source: DailyPostNGR - 🏆 11. / 59 Read more »

Rewane Decries ‘Mismanagement In Govt’, Says Naira Appreciation Is SustainableThe Central Bank of Nigeria (CBN) has cleared $7 billion in foreign exchange backlog which has seen the local naira appreciate of recent.
Source: channelstv - 🏆 7. / 63 Read more »

NBS: Price of 12.5kg cooking gas increased by 46% to N15k in FebruaryNigeria's independent online newspaper
Source: thecableng - 🏆 2. / 80 Read more »

Troops Rescue 16 Abducted In Katsina After 46 Days In CaptivityThe Latest News from Nigeria and Around the World
Source: channelstv - 🏆 7. / 63 Read more »

Troops rescue 16 victims after 46 days in captivitySixteen victims of kidnapping, including 10 women and six minors, have been rescued by troops in Katsina State after 46 days in captivity.
Source: GuardianNigeria - 🏆 1. / 94 Read more »

Binance to Discontinue Services for Nigeria's Naira Amid Regulatory ConflictBinance will no longer offer services for Nigeria's fiat currency, the naira, due to regulatory issues. Naira balances will be automatically converted to USDT, and support for NGN deposits and withdrawals will be discontinued. Spot trading pairs against the naira will be delisted, and other Binance services will also stop supporting the naira.
Source: DailyPostNGR - 🏆 11. / 59 Read more »