Nigeria: Currency Speculators Risk Losses As Rising Reserves, Oil Prices Strengthen Naira

23 January 2018

If rising reserves, oil prices in the international market and foreign exchange (forex) market liquidity are sustained, the Naira may be strengthened against other currencies from now till a greater part of 2018.

The development may spell doom for currency speculators and hoarders, including politicians who may have reserved some foreign currencies for 2019 electioneering campaigns.

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