Will the dollar fall or rise higher against the naira?

Posted by Chris on June 30, 2009 at 01:18:58:

The US dollars has risen all high against the free faling naira over a period of time now and in June, it is now at N175 on the black market. One wonders if this is the highest it will go this year or if it will rise higher or fall. A lot of international investors and local manufacturers who need foreign utilities have had their businesses slowed down due to the rising profile of the dollar a few months ago with the increasing global recession. The Us is not willing to spend as much as it used to and oil prices are unstable. The violence in the Niger delta is taking a toll on the national revenue and most people still need the dollar to transact business. When will the dollar start to fall against the naira?

Posted by Seyi on July 19, 2009 at 11:15:24:
In Reply to: Will the dollar fall or rise higher against the naira? posted by Chris on June 30, 2009 at 01:18:58:

In times of recession at this and less exports for Nigeria, the dollar may very well get higher than the naira, until the us starts spending more

Posted by Femi on September 07, 2009 at 02:11:02:
In Reply to: Will the dollar fall or rise higher against the naira? posted by Chris on June 30, 2009 at 01:18:58:

Dollar is still rising, now at about N160 at the black market. CBN should just peg it at a particular price than waiting for market forces