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  5 Facts About Jon Ogah Of Big Brother Naija

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  NYSC Releases 2017 Batch B Stream 2 Mobilization Time Table

Please follow and like us:

Related Post

Why Has Buhari refused to meet CAN over Southern K... Why Has Buhari refused to meet CAN over Southern Kaduna killings? – Asake "Christians are not animals that you come to slaughter anytime you fee...
Travel News: 2 Fulani Herds Men /Cattle Rustlers S... Travel News: 2 Fulani Herds Men /Cattle Rustlers Sentenced To Death By Hanging In Kogi Travel News: 2 Fulani Herds Men /Cattle Rustlers Sentenced To ...
INEC 2015: Jonathan lost 2015 election Intentional... INEC 2015: Jonathan lost 2015 election Intentionally, by Kpodoh, ex-Bayelsa Security Adviser  Jonathan lost 2015 election Intentionally, by Kpodoh, e...
LOGIN REMITA APP | REMITA MOBILE APP DOWNLOAD NEW LOGIN REMITA APP | REMITA MOBILE APP DOWNLOAD NEW Get Complete guidelines on the following: Remita sign up, Remita Sign In, Remita Sign Out, remita mo...
Receiving & Making Payment | Paying Federal G... Receiving & Making Payment | Paying Federal Government of Nigeria Bills Using Remita- www.remita.net Receiving & Making Payment | Paying Fede...
OIL & GAS NIGERIA: Dangote Begins Installatio... OIL & GAS NIGERIA: Dangote Begins Installation Of Oil Refinery Equipment Dangote the richest black man in Africa is here again with his massive...
Third Batch of 180 Nigerians return from Libya Recall that the a senior SA to the president warned young Nigerians looking for where to look for greener pasture to avoid going to Libya due to its...
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...
BREAKING NEWS: Ghana Election: PNC Candidate, Maha... The People National Convention candidates Mahama concedes defeat as he Congratulates Nana Akufo-Addo of the New Patriotic Party.Edward Mahama (D...
Buhari’s WAEC Certificate Vs Dino MelayeR... Buhari's WAEC Certificate Vs Dino Melaye's ABU Certificate Scandal According to APC NEWS TV, President Buhari sat for the WAEC Exam in 1961, bu...
Positive Effects of Social Media | Impact of Socia... Positive Effects of Social Media | Impact of Social Networking Sites on Society | Why Social Media is Good For Society Social Media: Social Network Si...
UNIDO launches ‘Quality Award’ to impr... UNIDO launches 'Quality Award' to improve Nigeria's economy | NNQ 2017 http://nnma.gov.ng/documents-center/board-meetingsUNIDO launches 'Quality ...
Russian Diplomat Andrey Assassinated in Turkey The Russian ambassador to Turkey was killed today when a suspected corp. fired at him during a photo exhibition in Ankara, The attack was ca...
Goodluck Jonathan Doesn’t Have Any Bank Account, ... The former president of Nigeria Dr Good luck Ebele Jonathan yesterday, set straight rumors form media news that he was involve in the bribe scandal ...
Download Form: Nigerian Army Recruitment 2016/2017... I am publishing this guide for the benefit of my readers who are either finding it difficult to navigate the Nigerian Army Recruitment forms and...
Fidelity Bank Bonanza Fidelity Bank over the week splashed over six of its bank loyal customers with a sum of N9 million in the 4th draw of the bank’s ongoing ‘Get ...
Tags:

Add a Comment

Your email address will not be published.