Stella Dimoko Korkus.com: Naira Appreciates To N455/$

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Friday, 10 March 2017

Naira Appreciates To N455/$

Hopes of further appreciation of the naira brightened yesterday as the nation’s external reserve rose to $30 billion, the highest in 13 months.


Consequently, the external reserve has risen by $4.2 billion since the beginning of the year, and by $6.2 billion since October 19th, 2016 when it commenced its upward trend.

Meanwhile, the naira yesterday appreciated to N455 per dollar in the parallel market as the Central Bank of Nigeria (CBN) injected another $195 million into the foreifn exchange market. The apex bank sold $100 million in wholse forwards, $70 million to meet demand for personal and business travel allowance and $25 million to bureaux de change (BDCs).

President, Association of Bureaux De Change (ABCON), Alhaji Aminu Gwadabe, confirmed this development to Vanguard, saying 3,114 collected $8,000 each from the CBN yesterday.

The dollar supply prompted the parallel market exchange rate to drop to N455 per dollar from N465 per dollar on Monday, indicating N10 appreciation.


Edited from vanguard

32 comments:

  1. Replies
    1. Let the good news continue.
      For some reason, GTBank keeps giving me more and more reason to never look back. After FBN slashed me a whole 520+ naira to dollar on my 💳, I haven't peeped them again.
      Now, GTBank has maintained their 320 naira per dollar on my Mastercard and I just can't stop dancing. Placed an order last night and the same thing.

      Delete
    2. Did I write this comment? First bank are robbers. Gtb is good. Try Stanbic and thank me later.

      Delete
    3. Stanbic rate is the best.... gtbank rates on my dom acct is something else

      Delete
    4. Thank you Anon and Ladun.

      Delete
  2. Ok.. Seen and apprecaited


    God bless us all

    Anyone who wants to buy ram for ileya should contact me b4 its too late. Na direct from north ooo



    Mc pinky💯

    ReplyDelete
    Replies
    1. What are the price ranges and how soon can it get to Lagos. I'm not using it for ileya o.

      Delete
  3. 455 to a dollar 💵 and that is "appreciation"? It hasn't appreciated enough o! Let it keep dancing 🎶 until it appreciates to at least 200/💵

    ReplyDelete
  4. Me am not understanding, someone shud xplain abeg....lol

    ReplyDelete
  5. \All these kobo kobo appreciation i dont like ooo. Failed APC government. Things are still very costly.

    people are not even happy at all. No smile when you pass someone.

    ReplyDelete
  6. Father Lord, strengthen the naira more in Jesus' name.

    ReplyDelete
  7. We are getting there.. Hope it drops down to 156 or Max 160.

    ReplyDelete
  8. We are believing it will still come down

    ReplyDelete
  9. I pray it keeps appreciating but my fear is that this isn't a long term measure
    *I'm outta here*

    ReplyDelete
    Replies
    1. If foreign reserve keeps increasing, it will be a long term measure..

      Seeing that what hikes the price in the first place is scarcity of dollar. But will oik piece improving from 35 Nair's to 57 Naira ,this is good. And now we sell more crude. There is less bombing by Niger deltas.


      So if things keep improving, it will be a long term measure. We can't stop importing in a day. It's going to take 5 to 10yrs to correct that by fixing every fixable

      Delete
  10. Daddy bubu, pls face other affairs n leave Daddy Osibajo wth our forex for now.thanks for ur understanding.

    ReplyDelete
  11. 455 to a dollar nd you are happy? Just Negodu this people, hmm

    ReplyDelete
  12. My dear ,I just weak. What's there to be happy about, it's still a freaking disaster. 455 to a dollar! Where's the joy in that? and to make matters worse, Buhari is back! It's a bloody tragedy.

    ReplyDelete
  13. Nigerians sha...still complaining about our lil efforts and playing the blame game....pls just thank God for the appreciation no matter how lil and pray for more of this

    ReplyDelete
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