Forex: Naira gains 10 Naira Against The Dollar Amidst Panic Buy

As major speculators and dealers await the sale of dollars probably by next week, as it is beingiraira hoped and speculators , majority of those trading and speculating have now gone into panic mode as they rush into selling of what they have for fear of an automatic drop in the value of dollars to the naira as CBN plans to start issuing foreign exchange to her citizens for fear of a drop in dollar to naira.

Today the naira appreciated by 10 naira against the dollar as the exchange rates becomes $1/365 at the parallel market.

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