Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,158,104 members, 7,835,732 topics. Date: Tuesday, 21 May 2024 at 02:04 PM |
Nairaland Forum / Nairaland / General / Business / Naira Appreciates Amidst Crisis, Checkout The New Exchange Rate (1010 Views)
New Exchange Rate? / Naira Appreciates As Demand For Dollar Gets Low / Naira Appreciates Against Dollar (2) (3) (4)
Naira Appreciates Amidst Crisis, Checkout The New Exchange Rate by tolexy123: 8:28am On Jun 03, 2016 |
Amid the myriad of economic headaches Nigeria is going through, the nation’s currency, naira has strengthened against the American dollar in the black market, NAIJ.com can authoritatively report. According to our Bureau De Change source in Katsina, the naira has gained strength and trades at N345/$1 today, June 2, as against the N347/$1 rate on Wednesday, June 1. Our Katsina based BDC source said: “The naira is selling for 345 to a dollar in the black market. This is welcomed development knowing fully well that just yesterday it traded at N347/$1. “Although, I can’t tell if the naira will continue to stay strong because the rate has been very inconsistent in recent times.” The Nigerian currency had started last week on a convincing note at N340/$1. It strengthened further against the greenback on Tuesday, May 24, before crashing on Wednesday, May 25 to N342/$1 and N345/$1 subsequently on Thursday, Friday. It started the new week at N347/$1 and had remained the same until today. Meanwhile, the CBN is ready to roll out details of the new flexible exchange rate policy, which is a monetary system that allows the exchange rate to be determined by supply and demand; the nation’s currency naira is still pegged at the official exchange rate regime of N197/dollar, despite the currency switching to N285 to a dollar at the interbank market. However, the implication of the flexible exchange rate policy is that with a high demand for the dollar in Nigeria, there is every likelihood that the naira will experience a further decline in the coming months. You can check out NAIJ.com’s bureau de change ‘market’ here for the best rates on foreign exchange. Source: https://www.naij.com/847789-goodnews-naira-strengthens-dollar-checkout-new-rate-2.html
|
Re: Naira Appreciates Amidst Crisis, Checkout The New Exchange Rate by tolexy111: 8:34am On Jun 03, 2016 |
Chaos everywhere |
Re: Naira Appreciates Amidst Crisis, Checkout The New Exchange Rate by Allen97(m): 8:58am On Jun 03, 2016 |
Abeg cefa nko |
Re: Naira Appreciates Amidst Crisis, Checkout The New Exchange Rate by osesology(m): 9:44am On Jun 03, 2016 |
Na dis wan una dey call apreciate? mtcheeew! I be tink say e don cum daun 2 #280 2 Likes |
Re: Naira Appreciates Amidst Crisis, Checkout The New Exchange Rate by tolexy111: 10:20am On Jun 03, 2016 |
Lol... 2naira is still somtin |
Re: Naira Appreciates Amidst Crisis, Checkout The New Exchange Rate by Pavore9: 12:07pm On Jun 03, 2016 |
Those whose line of business attracts foreign currency inflow are in good season. 2 Likes 1 Share |
Re: Naira Appreciates Amidst Crisis, Checkout The New Exchange Rate by tolexy111: 12:15pm On Jun 03, 2016 |
Pavore9:I think so |
Re: Naira Appreciates Amidst Crisis, Checkout The New Exchange Rate by Pavore9: 12:21pm On Jun 03, 2016 |
tolexy111: Export of goods and services is the best bet with the depreciation of the Naira. |
Re: Naira Appreciates Amidst Crisis, Checkout The New Exchange Rate by tolexy111: 11:57am On Jun 04, 2016 |
Pavore9:true that |
Re: Naira Appreciates Amidst Crisis, Checkout The New Exchange Rate by hitz: 4:17pm On Jun 04, 2016 |
OP. Stop this your stvpidity with these your false alarms. |
(1) (Reply)
MMM Investors Rues For Their Loss. Be Careful Aspirants!!! / Read Donald Trump’s Short New Year Message To Friends And Enemies / Dollar Rate $
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 14 |