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Naira Appreciate Against Dollar - Business - Nairaland

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Naira Appreciate Against Dollar by jennycutiey: 11:21am On Jan 19, 2016
The Naira on Monday appreciated to N296 from N305 to the dollar at the parallel market following expectations that the Central bank of Nigeria, CBN, will sell dollars to Bureau de Change, BDCs this week.

CBN had on January 11th banned the sale of foreign currencies to BDCs, the decision generated a wide spread...

Read more: http://www.post-nigeria.com/naira-appreciate-against-dollar/
Re: Naira Appreciate Against Dollar by Cutehector(m): 11:24am On Jan 19, 2016
Naira jus dey rise and fall like "jangilover"
Re: Naira Appreciate Against Dollar by ChizzyMaris(f): 11:26am On Jan 19, 2016
Why is our Naira value going upandan like this na?

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Re: Naira Appreciate Against Dollar by naijaboy756: 11:27am On Jan 19, 2016
One good news from this yeye government
Re: Naira Appreciate Against Dollar by Prowizy2(m): 11:42am On Jan 19, 2016
ThankGod!
Re: Naira Appreciate Against Dollar by winetapper: 11:42am On Jan 19, 2016
Re: Naira Appreciate Against Dollar by grandstar(m): 4:16pm On Jan 19, 2016
jennycutiey:
The Naira on Monday appreciated to N296 from N305 to the dollar at the parallel market following expectations that the Central bank of Nigeria, CBN, will sell dollars to Bureau de Change, BDCs this week.

CBN had on January 11th banned the sale of foreign currencies to BDCs, the decision generated a wide spread...

Read more: http://www.post-nigeria.com/naira-appreciate-against-dollar/
CBN should not resume the sale.

Rather CBN. should allow the naira to weaken to 230. This will immediately slash demand at the official market and allow the parralel rate to converge with the officialrate

Then government can resume the sale of forex to the BDC

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