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

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Friday, March 10, 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
By -

29 comments:

  1. Unknown10 March 2017 at 09:18

    Good news

    ReplyDelete
    Replies
    1. ARIANNA10 March 2017 at 11:11

      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. Anonymous10 March 2017 at 12:15

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

      Delete
    3. Unknown10 March 2017 at 15:15

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

      Delete
    4. ARIANNA10 March 2017 at 23:11

      Thank you Anon and Ladun.

      Delete
  2. Mc pinky(Award winner of BV WITH THE MOST Gbagaun of the year 2021)10 March 2017 at 09:18

    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. Anonymous10 March 2017 at 11:32

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

      Delete
  3. Blackberry10 March 2017 at 09:19

    Still high.

    ReplyDelete
  4. Unknown10 March 2017 at 09:19

    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
  5. Unknown10 March 2017 at 09:20

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

    ReplyDelete
  6. Miss Ess10 March 2017 at 09:23

    E go better

    ReplyDelete
  7. Yori Yori Princess10 March 2017 at 09:27

    \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
  8. OmoBee10 March 2017 at 09:33

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

    ReplyDelete
  9. Nigerian first daughter10 March 2017 at 09:35

    We're getting there.

    ReplyDelete
  10. Miss Ogbomoso10 March 2017 at 09:38

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

    ReplyDelete
  11. Rose10 March 2017 at 09:38

    We are believing it will still come down

    ReplyDelete
  12. Unknown10 March 2017 at 09:39

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

    ReplyDelete
    Replies
    1. Anonymous10 March 2017 at 10:48

      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
  13. Ogbebor Rhoda Rita10 March 2017 at 09:48

    Good

    ReplyDelete
  14. Francdol10 March 2017 at 09:57

    Good to know

    ReplyDelete
  15. Mao Akuh (Oriflame)10 March 2017 at 10:01

    N150 to $1

    ReplyDelete
  16. Anonymous10 March 2017 at 10:58

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

    ReplyDelete
  17. Peaches and Cream10 March 2017 at 11:21

    Good news

    ReplyDelete
  18. Unknown10 March 2017 at 11:30

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

    ReplyDelete
  19. Candid!10 March 2017 at 11:38

    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
  20. missylynn10 March 2017 at 11:55

    Soon will be there

    ReplyDelete
  21. Unknown10 March 2017 at 15:45

    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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