LEGIT NG
Muda Yusuf, an economist, has advocated for reducing market volatility. In his view, volatility is used to encourage speculation and fuel unpredictability.
Yusuf said this while responding to the volatility in the foreign exchange market, which has caused the Nigerian naira’s value to fluctuate upward and downward in relation to the US dollar.
After falling to almost 1,900 to the dollar, the naira gained strength and was recently named the world’s best-performing currency, trading at about 1,100.
Meanwhile, recent data from FMDQ has shown that the naira continued to depreciate against the dollar at the official foreign exchange window, closing at N1,339.23/$1 on Friday, April 26.
Speaking about the naira volatility on Channels Television‘s Politics Today on Friday, Yusuf stated that addressing the problem of foreign exchange market volatility is imperative.
