The Nigerian naira has staged a comeback against the dollar and other currencies.
Naira and dollar
The Naira on Thursday appreciated against the dollar to close at N476/$1.
This comes after Forex turnover rose significantly by 96.6%.
Also at the at the NAFEX window, the naira appreciated marginally against the dollar to close at N394.60/$1 during intra-day trading on Thursday, December 10.
The naira is expected to trade within a range across markets after the local currency received a boost from CBN’s easing of restrictions on diaspora remittances according to Reuters.
ABCON President, Aminu Gwadebe, had blamed the crash of the naira on illegal activities that include hoarding, speculation, illegal cash evacuations through the nation’s borders, use of the dollar for gratification and so on.