The bank highlighted that exporters and businesses contributed to the inflows in June. ADVERTISEMENTAs Nigeria adjusts to the elimination of gasoline subsidies, the price of petrol has increased with the naira unification to N640/ltr. Even though the naira is still falling versus the dollar, analysts think that over the long and medium term, exchange rate unification would boost FX liquidity. Some analysts think that the naira float will attract investment to other areas of the economy. On Thursday, August 10, 2023, the naira plunged to another record low of N930/$1, as demand for dollars from importers and other end users vastly outstrips supply.

Source: Daily Nation August 11, 2023 09:34 UTC