Stella Dimoko Dollar drops to N430 as CBN supplies $180m


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Tuesday, March 21, 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


  1. 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

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

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

  4. Yaayyyyyy
    It can only get better.

  5. Goodnews...hope it keeps falling

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

  7. That's good.

    God Bless Everyone.

  8. 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.
    Buh this good. I pray it strengthens further permanently

    1. 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.....

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

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

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

  12. Not great news. They should do something fast about it

  13. One good news since Buhari return.....

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


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