With the continuous increase in dollar now leading up to 525 naira per dollar, I was thinking whether to buy dollar(about $100 for now) and keep till it has significantly increased and change back to naira later this year as some people are saying it might soon peak 1000 naira per dollar. Is this a good investment opportunity?

it would get to 1000 but not at the pace you are expecting it to. even of it does, what benefit does 50k extra want to give you because by the time it gets there, the purchasing power of that "gain", would be the gain + initial capital.. so whats the point?

Okay, thanks for the insight

redcliff:
it would get to 1000 but not at the pace you are expecting it to. even of it does, what benefit does 50k extra want to give you because by the time it gets there, the purchasing power of that "gain", would be the gain + initial capital.. so whats the point?

Dollar can’t reach 1000 naira..but it will definitely see it’s peak at probably 600 before a downward trend begin
This CBN policy is a step in the right direction..make dollar available to the common man at 426..and besides they will be tracking all request to see it is fully executed in the shortest possible time..