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Nairaland Forum / Nairaland / General / Business / Naira May Drop On Profit-taking, Increased Demand (13793 Views)
Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ / Dollar Debts: CBN Repays Banks Next Week, Naira May Rebound / Naira May Fall To ₦700 Per Dollar Over Oil Theft, Low Export – NACCIMA (2) (3) (4)
Naira May Drop On Profit-taking, Increased Demand by Nobody: 10:10am On May 05, 2018 |
Oyetunji Abioye with agency report The naira may ease against the United States dollar next week at the Central Bank of Nigeria’ s Investors and Exporters Foreign Exchange Window due to increased demand as companies seek to repatriate dividends after the end of the earnings season, coupled with portfolio investors taking profits. Forex traders said the naira eased to 361 on Friday at the I&E window, from the 360 levels it had maintained for over six months, as some forward currency contracts matured amid tight dollar liquidity. On the official market, the naira was quoted at 305.70, supported by the CBN’ s regular intervention. One lender traded the currency at 314.50/dollar on Thursday, according to Reuters. The local unit closed at 362/ dollar at the parallel market on Friday, the same level it has closed since Monday. The CBN had on Wednesday injected the sum of $210m into the inter-bank foreign exchange market in continuation of its efforts to sustain liquidity in the market. The apex bank offered the sum of $100m to authorised dealers in the wholesale segment of the market. The Small and Medium-scale Enterprises segment received the sum of $55m, while the sum of $55m was apportioned to invisibles such as tuition fees, medical payments and Basic Travel Allowance. The CBN Acting Director, Corporate Communications Department, Mr. Isaac Okorafor, confirmed the figures and reiterated the bank’ s capacity to continue to sustain the foreign exchange intervention. Okorafor urged Deposit Money Banks to continue to honour requests from customers with genuine needs, noting that the bank would continue to sustain liquidity in the foreign exchange market. www.punchng.com/naira-may-drop-on-profit-taking-increased-demand/
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Re: Naira May Drop On Profit-taking, Increased Demand by CriticMaestro: 1:32pm On May 05, 2018 |
Make una do something about our 100 naira notes From that 100 naira note u go know say our economy bad 21 Likes 1 Share |
Re: Naira May Drop On Profit-taking, Increased Demand by onupeter(m): 1:33pm On May 05, 2018 |
Oga I am not understanding, is it that dollar will finally drop to 1naira per dollar as promised by PMB led government before been voted for, or it will drop to 358.5naira per dollar? 3 Likes |
Re: Naira May Drop On Profit-taking, Increased Demand by wildcatter23(m): 1:33pm On May 05, 2018 |
More money in the bank |
Re: Naira May Drop On Profit-taking, Increased Demand by BruncleZuma: 1:33pm On May 05, 2018 |
4 Likes |
Re: Naira May Drop On Profit-taking, Increased Demand by coken: 1:33pm On May 05, 2018 |
naira got no value before nw 2 Likes |
Re: Naira May Drop On Profit-taking, Increased Demand by linkers: 1:34pm On May 05, 2018 |
Naira! The ever useless currency apart from Zimbabwe dollars courtesy of Buharinomics 15 Likes |
Re: Naira May Drop On Profit-taking, Increased Demand by apatuku: 1:34pm On May 05, 2018 |
Re: Naira May Drop On Profit-taking, Increased Demand by Ratello: 1:34pm On May 05, 2018 |
Can we even hear something good from this government one day? 6 Likes |
Re: Naira May Drop On Profit-taking, Increased Demand by Notatribalist(m): 1:35pm On May 05, 2018 |
Good news for exporters,bad news for importers.that's life for you,one man's fall is another's rise.. 3 Likes |
Re: Naira May Drop On Profit-taking, Increased Demand by kennosklint(m): 1:35pm On May 05, 2018 |
Buhari has finally succeeded in making 1naira equal 1dollar 9 Likes |
Re: Naira May Drop On Profit-taking, Increased Demand by oyetunder(m): 1:35pm On May 05, 2018 |
Drop or whatever...we just need to have money in our accounts and pockets. 1 Like |
Re: Naira May Drop On Profit-taking, Increased Demand by tolexy007(m): 1:37pm On May 05, 2018 |
sowore 2019. 2 Likes |
Re: Naira May Drop On Profit-taking, Increased Demand by jogsman01(m): 2:05pm On May 05, 2018 |
CriticMaestro:that � note sef..,.. I taya ooo 1 Like |
Re: Naira May Drop On Profit-taking, Increased Demand by Ekoishome: 2:08pm On May 05, 2018 |
Cheers |
Re: Naira May Drop On Profit-taking, Increased Demand by piagetskinner(m): 2:08pm On May 05, 2018 |
upon the foreign reserve reaching almost 50billion... naira is still weak...God punish that daura misfit 4 Likes |
Re: Naira May Drop On Profit-taking, Increased Demand by Temple1288(m): 2:24pm On May 05, 2018 |
$1=N1 |
Re: Naira May Drop On Profit-taking, Increased Demand by psalmson001: 2:25pm On May 05, 2018 |
Make election campaign start proper, then we will know the true value of naira against the dollar. Not all these padding CBN has been doing. |
Re: Naira May Drop On Profit-taking, Increased Demand by ibez007(m): 2:29pm On May 05, 2018 |
Drop!.
Here comes the Chanji!. Lols. |
Re: Naira May Drop On Profit-taking, Increased Demand by zinaunreal(m): 3:03pm On May 05, 2018 |
Im just waking up from sleep and one naira was equal to one dollar for my dream, walahi if i dey lie ask buhari |
Re: Naira May Drop On Profit-taking, Increased Demand by verygudbadguy(m): 3:13pm On May 05, 2018 |
Ekoishome:Your phone number no complete na. |
Re: Naira May Drop On Profit-taking, Increased Demand by Keywordconcept(m): 3:19pm On May 05, 2018 |
Ok |
Re: Naira May Drop On Profit-taking, Increased Demand by justtoodark: 4:11pm On May 05, 2018 |
easterners are not good business people....naira keeps dropping although igbos are mainly in charge..... 1 Like |
Re: Naira May Drop On Profit-taking, Increased Demand by justtoodark: 4:13pm On May 05, 2018 |
make you easterners dont even try it....!! who is in charge of cbn right now....?...tell me hausa fulanis and i will dance a rain dance that thunda may strike una....!!... 1 Like |
Re: Naira May Drop On Profit-taking, Increased Demand by justtoodark: 4:15pm On May 05, 2018 |
igbos are not good in financial stuff..... the naira keeps dropping and dropping....and they were mostly in charge since 1960....!!.....why...?!!!!!.... 1 Like |
Re: Naira May Drop On Profit-taking, Increased Demand by justtoodark: 4:18pm On May 05, 2018 |
igbos are very bad in money stuff...they may know how to get it,but they dont know how to manage it..... am just saying what i noticed..... dare me....!!!!.... 1 Like |
Re: Naira May Drop On Profit-taking, Increased Demand by justtoodark: 4:21pm On May 05, 2018 |
am somebody that dealt in forex,derivatives,options,put,call and stuff....i nearly went crazy.... and i can say openly igbos dont understand finance..... 1 Like |
Re: Naira May Drop On Profit-taking, Increased Demand by fowlyansh181(m): 4:57pm On May 05, 2018 |
justtoodark:this guy is a very big fool 4 Likes |
Re: Naira May Drop On Profit-taking, Increased Demand by justtoodark: 5:03pm On May 05, 2018 |
fowlyansh181: tell me am wrong and will start dancing.... 1 Like |
Re: Naira May Drop On Profit-taking, Increased Demand by justtoodark: 5:05pm On May 05, 2018 |
who is in charge right now in cbn....??...which tribe is he from...?? dont even dare..... am didnt said he is doing a bad job...not a tall..... am just saying igbos dont understand trade wars..... finance was always a war....!!!! 2 Likes |
Re: Naira May Drop On Profit-taking, Increased Demand by justtoodark: 5:08pm On May 05, 2018 |
they dont understand finance......!!!!...simple.... |
Re: Naira May Drop On Profit-taking, Increased Demand by justtoodark: 5:10pm On May 05, 2018 |
i can even break down the word finance to you in a simple language.......war...!!!!!!! 1 Like |
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