WEEKAHEAD-FX: Naira seen trades between N362/N363 to U.S Dollar

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Nigeria’s naira is seen trading within its current range of 362 to 363 next week, supported by dollar inflows from exporters, traders said.

Last week, the naira was quoted as weak as 364 per dollar for investors after liquidity thinned out. One trader said dollar supply had improved but there was still ample demand, owing to Nigeria’s reliance on imports.

On the official market, supported by the central bank, the unit weakened slightly to 306.50.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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