Naira Up Against United States dollar at the parallel market

block;width:300px;height:250px" data-ad-client="ca-pub-6421572098224086" data-ad-slot="3363741150">

Naira Up Against United States dollar at the parallel market

naira to dollar, gtbank dollar to naira exchange rate, exchange rate dollar to naira black market, dollar to naira bank rate today, dollar to naira black market rate, dollar to naira parallel market, cbn exchange rate dollar to naira, naira to dollar exchange rate today, dollar to naira today.

This is a message and a sign of warning to those hoarding dollars in Nigeria, we believe that a time will come when all those dollars been reserved in one corner of the house or the other will become even more useless.

NGN NAIRA & $ DOLLAR UPDATE: 

dollars

Naira Up Against United States dollar at the parallel market-This came barely 24 hours after the Central Bank of Nigeria announced the injection of $280m into the various segments of the Forex market and the commencement of its weekly $20,000 sale to licensed Bureau De Change operators in Nigeria.

Before closing at 405/dollar on Tuesday, a day after the Easter holidays, the local unit had closed flat at 410/dollar for seven consecutive days.

As a result, currency analysts had expressed concerns over the exchange rate resistance to the CBN’s continued dollar supply into the forex market aimed at bridging the gap between parallel and official exchange rates.

Last week, some currency analysts predicted the naira would appreciate this week if the central bank sustained its interventions in the market.

Some experts, however, expressed doubt that the CBN possessed the stock of forex to wage the currency war against speculators.

READ  These are the Approved International And Domestic Airlines Flying from Abuja Nigeria

But the regulator has assured the market participants that with the external reserves currently at $30bn and with oil hovering above $50/barrel, it will sustain the regular dollar injections.

The local currency had closed at 375/dollar about three weeks ago amid record dollar injections by the central bank.

Last week, commercial banks could not purchase $39m out of the $100m offered for sale by the CBN on Thursday due to shortage of naira.

A breakdown of the CBN’s $280 intervention on Tuesday showed that invisibles such as Business Travel Allowance, Personal Travel Allowance, medical bills and tuition received $80m, while the Small and Medium Enterprises window received $100m. Together with the wholesale bid auction of $100m, the CBN sold $280m into the market.
 Read More: 
Naira Strengthens the More
See Why is Naira Crawling
 
The bank’s spokesman, Mr. Isaac Okorafor, said the CBN was committed to supplying forex to genuine bank customers.

Searches related to naira to dollar
  1. gtbank dollar to naira exchange rate
  2. exchange rate dollar to naira black market
  3. dollar to naira bank rate today
  4. dollar to naira black market rate
  5. dollar to naira parallel market
  6. cbn exchange rate dollar to naira
  7. naira to dollar exchange rate today
  8. dollar to naira today
That’s all on Naira Up Against United States dollar at the parallel market, we urge you all to bookmark this page to get more update on all your favorite topics. The comment box is available for your contributions just below this post thank you for reading.
READ  Aero Contractors To Resume Wednesday 21st December 2016

Please follow and like us:

Related Post

Delta communities Under Attack By Herdsmen Delta communities Under Attack By Herdsmen Information Reaching us reveals that Delta state and its communities are under attack by so called herds...
6-Top Reasons You Should Not Argue With Road Offic... 6-Top Reasons You Should Not Argue With Road Officials No doubt there is this attitudes that over takes us when we come in contact with some roa...
PEOPLE OFTEN ASK HOW THEY CAN HELP OUT. THE ANSWER... PEOPLE OFTEN ASK HOW THEY CAN HELP OUT. THE ANSWER IS SIMPLE, THERE ARE MANY WAYS! HERE’S A STORY ABOUT ONE GIRL WHO DECIDED TO HELP GAMECHANGER CHAR...
FG Frowns at Nigeria’s rating on Press Freedom | S... FG Frowns at Nigeria’s rating on Press Freedom Latest Update: FG Frowns at Nigeria’s rating on Press Freedom - The Federal Government has described a...
Northern Nigeria People More favored in the Latest...   Northern Nigeria People More favored in the Latest SSS Recruitment (See Full List of Names With Photos) Nigeria is yet to define her stands...
Read What Trump Told Buhari A lot of Hopes came alive when family, friends and well wishers heard about the telephone conversation between Nigerian President Muhammadu Buhari a...
Naira Strenghtens As, Neighbouring Countries Stops... The Central Bank of Nigeria came up with a new policy that has since made Naira to Appreciate positively against the Dollars. The sudden slide of ...
Abati Believes Buhari Is Not Telling Nigerians Eve... Carefully read to understand what the former spokesperson to President Jonathan has to say about Buhari and his former boss Reuben has cleared the ai...
Fulani Herdsmen At It Again Attacks Enugu Communit... Fulani herdsmen at it again do not forget Northern Governors claims they are from Mali, Senegal, Chad and not herds men from northern Nigeria. ...
Stephanie Otobo and Festus Keyamo are Weapons Of D... Stephanie Otabo’s Mum Exposes Her-My daughter lied against Suleiman Keyamo-claims he has enough evidence to Stephanie’s claims Omega Fire Minis...
JAMB News: 2017 UTME |JAMB Registration|JAMB Intro... 2017 UTME: JAMB Introduces Remita To Ease Pin Purchase For Registration JAMB NEWS JAMB 2017 JAMB REGISTRATION   This is Jam...
NABTEB 2017/2018 Timetable for May/June Certificat... NABTEB 2017/2018 Timetable for May/June Certificate Examinations | Download|Download TimeTable |NABTEB Registration Student are now free to check...
Nigeria Airport To Be Closed For 6 weeks     Nnamdi Azikiwe International Airport, Abuja, will be temporarily closed for complete six weeks in February and March next year 201...
Late Senator Isiaka Adeleke’s cause of Death... Late Senator Isiaka Adeleke's cause of Death Has Just Been Revealed. Adeleke died April 23, 2017  A senator known as Adeleke who hails fro...
Aero Contractors To Resume Wednesday 21st December... According to Capt. Fola Akinkuotu the airline’s Chief Executive Officer, confirmed that Aero contractors airline will resume operation 21 December 2...
Get Nigerian Peace Corps Guidelines & Recruit... Get Nigerian Peace Corps Guidelines & Recruitment Form 2017/2018 www.peacecorpsofnigeria.org. Get Nigerian Peace Corps Guidelines & Recruitmen...
Tags:

Add a Comment

Your email address will not be published.