Stella Dimoko Korkus.com: Dollar drops to N430 as CBN supplies $180m

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Tuesday, 21 March 2017

Dollar drops to N430 as CBN supplies $180m

Naira yesterday started the week positively as it appreciated by about 4 percent at the street market.




The local currency exchanged at 430 to a dollar in Abuja while it traded in Lagos at 435 before the closing hours.

This is coming as the Central Bank of Nigeria (CBN) on Monday, March 20, 2017 offered a total of $180 million to meet bids for wholesale auction and requests for invisibles such as medicals, school fees and personal travel allowances valued at $80 million, through the inter-bank window.

Confirming the figures, the Acting Director, Corporate Communications Department, CBN, Isaac Okorafor, said the wholesale requests will be settled on Tuesday, March 21, 2017, adding that the closing interbank rate for Monday, March 20, 2017, was N307.5/$1.

With this development, it is expected that the Naira will further strengthen in the foreign exchange market in the days to come.

Edited from Daily Trust


21 comments:

sexy Daddy said...

Great news

Alabi Ganiyat said...

Great news!

Anonymous said...

Abeg someone should pls enlighten me. Does this rate(430) apply when sending money from the US. If so, which money transfer company should I use

Apples ( SDKBlog Shrink) said...

I love this!!!! We pray things get better!

The General's Wife said...

Good job!
I predict it wil drop to 300 before Summer.

charitybino said...

Little by little

CUPID said...

Yaayyyyyy
It can only get better.

Isolde Fontaine said...

Goodnews...hope it keeps falling

Oloche Fidelis said...

Nice development!

Peaches and Cream said...

Good News. We will get there by God's grace

Esther Okoro said...

That's good.




God Bless Everyone.

Beloved said...

Wooow this is really good news.
Monkeynofine I just imagined you sitting at the balcony with legs crossed on a stool, With a glass of wine and with your Tab on the other hand Saying "I pray Naira should strengthen further" in fact let me call Mr Bureau and tell him the good news already.
Hahaha
Buh this good. I pray it strengthens further permanently

Olori footwear said...

When I hear "dollar 💵 dropped" I am expecting it to be at least 200/1 💵

MhizVee said...

This kind naira appreciation wey we never dey see the effect for price of things so. Who is deceiving who?

miss priya said...

Good news but buying is higher, they should do something about it as soon as possible .

perfect God said...

Finally it is well

Yori Yori Princess Loveme Jeje said...

Not great news. They should do something fast about it

sholetoga said...

One good news since Buhari return.....

jelly said...

Wow! This is good news

chinyere adajesus said...

Good news. So that that biz can move small, nawa.....

Monkeynofine said...

Walai u be witch 😂😂😂😂 immediately I saw this post I called my younger bro to help me confirm from his Hausa chai it will get better.....

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