The naira, on Friday, appreciated by 4.31 percent to close at N743.07 to a dollar at the investors and exporters (I&E) window.
Edun said speculators may lose their shirts if liquidity inflows increase and the exchange rate rapidly comes down.“The issue of foreign exchange is clearly uppermost in the minds of the monetary authorities. What I can say is this: For a country that has revenue flows from oil revenues, from remittances, from other non-oil exports, and from financing of over $100 billion a year, there is no reason that there should not be a stable exchange rate,” Edun said.
“All other things being equal and provided inflation is kept under control, the N860/$ that we are seeing is not backed up by the fundamentals of the Nigerian economy.the exchange rate windows, the naira has consistently experienced fluctuations at the official window.
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