When I wanted to trade today, I saw naira has climbed to 1490 to a dollar in the exchange market. Will this continue or government are only doing market manipulation?
With what I am reading, analysts are predicting that dollar price will continue to increase but the price of what we are importing are not falling. Do you think increasing the value of naira while things are still expensive a good idea?
Let me first talk about the Naira gaining value over the USD, most of us must have seen this before now if we are experienced enough in cryptocurrency trading or forex trading, but at the long run, what you will have to see is the coming back of the US dollar with full force, because all these that are leaders are doing are nothing than market manipulations, just as you can't expect the GBP to go low below USD, just accept that this will be a short time effect only, while by the time it will rise back, we may landed at $1 to #1,800 or more if care is it taken.