Dollar Falls To #490 - Business - Nairaland
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| Dollar Falls To #490 by emerged01(m): 1:08pm On Feb 23, 2017 |
The Nigerian naira on Thursday recovered to N490 per dollar, as the fresh policy action from the Central Bank of Nigeria finds its foothold. A bureau de change operator, who spoke to TheCable in Lagos, said the naira recovered drastically from 515 per dollar on Wednesday, to 490 on Thursday morning. Ibrahim Baba, a trader in Abuja, the nation’s capital, said the local currency is trading 498 to the greenback at the Federal Capital Territory (FCT). On Monday, the CBN introduced a new policy action, which mandates banks to open sales point at major airports across the country, in a bid to halt forex scarcity for travellers. “In order to further ease the burden of travellers and ensure that transactions are settled at much more competitive exchange rates, the CBN hereby directs all banks to open FX retail outlets at major airports as soon as logistics permit,” CBN said. The CBN, in its guidelines for the new policy, revealed that every Nigerian, 18 years or older, can access $16,000 per year for personal travels, and $15,000 per term for school fees. About 24 hours after the CBN unveiled the policy, the bank went on to inject $370.9 million into the interbank foreign exchange market. The policy action has also seen the pound sterling and euro, fall at the parallel market to N615 and N505 respectively. https://www.thecable.ng/just-naira-retreats-4901-cbn-action |
| Re: Dollar Falls To #490 by Nick4life: 1:12pm On Feb 23, 2017 |
Good policy maybe dollar wud hit #300 by next month so I can stake some of it |
| Re: Dollar Falls To #490 by emerged01(m): 1:14pm On Feb 23, 2017 |
Nick4life:I pray o |
| Re: Dollar Falls To #490 by greaterlove001: 1:15pm On Feb 23, 2017 |
goodnews. God bless our Ag. President with more wisdom. |
| Re: Dollar Falls To #490 by hucienda: 1:16pm On Feb 23, 2017 |
All the way to N1! Make Naira Great Again! Someborri Sai Baba!  |
| Re: Dollar Falls To #490 by Donexy16(m): 1:16pm On Feb 23, 2017 |
E go soon better |
| Re: Dollar Falls To #490 by madridguy(m): 1:17pm On Feb 23, 2017 |
Good step but our promise is #1-$1 |
| Re: Dollar Falls To #490 by doctokwus: 1:19pm On Feb 23, 2017 |
Yay
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| Re: Dollar Falls To #490 by rottennaija(m): 1:21pm On Feb 23, 2017 |
This is only possible as a result of foreign reserve growing. If the reserve keeps growing, cbn will have enough to inject into the market, forcing those hoarding dollars to bring then out or lose completely This is good, I only pray for the reserve to keep rising. |
| Re: Dollar Falls To #490 by Mynd44: 1:22pm On Feb 23, 2017 |
I pity those who bought at 520 expecting it to fall more |
| Re: Dollar Falls To #490 by BeeBeeOoh(m): 1:27pm On Feb 23, 2017 |
That's good. So, Can we send Buhari on an indefinite suspension because it seems Nigeria is doing great without his presence?? |
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