On the 26th of April 2018, naira was exchanged at N444 to €1. And within the day, naira improved and gained with the exchange of N403 to €1. There was stability in the currency market between the naira and the euro until the end of 2016 when the recession began. Before the recession, naira was exchange at N310 to €1. During the recession, the naira lost so much and was at around N450 to €1.
Recently, millions of dollars was pumped into the Nigeria forex exchanage market by the economic team headed by the Vice President. Prof. Yemi Osinbajo with the main aim of stabilizing the naira against major counter currencies like the USD and the EUR.
Naira has gained momentum in the last four weeks and there are high tendencies to gain more.