- Nigerian currency recorded an unexpected piece of good news in the P2P segment of the foreign exchange market
- In just a matter of hours on Friday, the value of the Nigerian currency increased by over N200 against the US dollar
- It is unclear why the dollar crashed, but it might be related to recent actions set to be taken by the federal government
Speculators hoarding the dollar were given a rude awakening on Friday, October 27, 2023, as the naira, within hours, appreciated by N166 to the dollar in the Peer to Peer market.
Financial technology companies and cryptocurrency companies mainly use the P2P market.
