Do you noticed that naira appreciate against United States dollar recently? It is caused as a result of the newly introduced Enhanced Foreign Exchange Market System (EFEMS) by the CBN. The price was controlled by the CBN before Tinubu become the president, but it was replaced by Investors and Exporters (I&E). Now EFEMS is replacing I&E.
I think sentiment is the reason for the naira price gain as supply became more than the demand recently as it was changed from I&E to EFEMS.
Topic: EFEMS, the cause of the recent naira big gain - page 2. (Read 206 times)
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