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Naira Set To Rise Further This Week - Business (2) - Nairaland

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Naira To Rise Further As Banks Reject Dollars / Naira Set To Appreciate As CBN MPC Retains Rates / Oil Prices Rise Further As Dollar Drops (2) (3) (4)

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Re: Naira Set To Rise Further This Week by ayusco85(m): 9:01am On Apr 06, 2015
ok
Re: Naira Set To Rise Further This Week by Nobody: 9:01am On Apr 06, 2015
If i wan changer for Aboki nw,wat myt be d rate pls??
Re: Naira Set To Rise Further This Week by MizMyColi(f): 9:02am On Apr 06, 2015
And things are going according to plan....
Re: Naira Set To Rise Further This Week by menesheh(m): 9:02am On Apr 06, 2015
Oya Buhari is for you to stability 1 naira = 1 dollar.

We are giving you a grace of seven months to do that starting from 29th may.

Good bless you for doing that in the near future.
Re: Naira Set To Rise Further This Week by thefakestan: 9:02am On Apr 06, 2015
Dollar is changing for less than 180 on d streets







The #abokis are really incharge

3 Likes

Re: Naira Set To Rise Further This Week by cana882(m): 9:03am On Apr 06, 2015
joedejana:
D
NZERIBE1:
.
menesheh:
Oya
adesegun121:
Ok
sammyj:
.
joanprice:
ok
e b lyk land don cheap well-well

1 Like

Re: Naira Set To Rise Further This Week by realtestament(m): 9:04am On Apr 06, 2015
$1=#1
Datz d change i want *shikena*
Re: Naira Set To Rise Further This Week by Nobody: 9:05am On Apr 06, 2015
Basically, they are saying that Jonathan is reselling the whole unspent dollars with him into the economy. That would invariably increase supply and demand is not there until 2019,when he would likely surface again.
Re: Naira Set To Rise Further This Week by Decryptor(m): 9:05am On Apr 06, 2015
Oh...so it is SET TO RISE and NOT RISEN YET?

Immediately I saw the headline on FP, I knew it had to be from punch grin
Re: Naira Set To Rise Further This Week by adesegun121(m): 9:07am On Apr 06, 2015
cana882:
e b lyk land don cheap well-well

na u sabi oooo...

Na 1naira per plot now... 60/120
Re: Naira Set To Rise Further This Week by makzeze: 9:07am On Apr 06, 2015
dollar now 165
Re: Naira Set To Rise Further This Week by Oblitz(m): 9:07am On Apr 06, 2015
Re: Naira Set To Rise Further This Week by Abduletudaye(m): 9:12am On Apr 06, 2015
na so GMB dey affect naira already...

1 Like

Re: Naira Set To Rise Further This Week by Ahmed4002(m): 9:14am On Apr 06, 2015
anyway have 200$ for sale @ 197 / $
just quote me plus Pounds also available
Re: Naira Set To Rise Further This Week by closearms(m): 9:15am On Apr 06, 2015
Normality:
Tell us what we don't know.

Summary of this long epistle is.

Abokees doing bureau Du change that seized and hoarded dollars plus their brothers in high places hoarding dollars are bringing them out.

Their brother have won so dollar bills will start surfacing and naira will fall back to normal exchange rate.

Jonah. dem use u play ball abeg, if no be u wey share some dollars give people, dollar for dey N300 to $1.

keep your hatred for d abokis . don't give your self hat attack .. Na till 8yrs from now... GMB till 2023

2 Likes

Re: Naira Set To Rise Further This Week by joystickextendr: 9:15am On Apr 06, 2015
Good hope the dollar can crash further smiley






Meanwhile are u having problems with your joystick size or having premature ejac?? Check my profile/signature
Re: Naira Set To Rise Further This Week by Nobody: 9:17am On Apr 06, 2015
EroticAngelina:
I have no fvcking idea what this means undecided

Yeah I am sure you don't, except they make it a barney musical with bouncing coloured letters explaining everything at the bottom of the screen right? grin
Re: Naira Set To Rise Further This Week by harry509: 9:17am On Apr 06, 2015
jerryboiii:



The naira will rise further against the dollar on the parallel market this week, analysts and foreign exchange dealers have predicted.

They argued that the peaceful outcome of the presidential election and the hard stance of the President-elect, Muhammadu Buhari, against corruption and economic leakages had boosted investor confidence in the economy.

The naira, which fell to a record high of 228 against the greenback before the election, rose to 210 on Friday.

However, the local currency traded within the 199-199.50 band on the official interbank market, where it has been stuck since February, after the Central Bank of Nigeria pegged the rate.

The Acting President, Association of Bureau de Change Operators of Nigeria, Alhaji Aminu Gwadabe, told our correspondent he expected the local currency to rise further this week and beyond.

Gwadabe, who said the naira had firmed to 204 against the dollar on Thursday, believe the trend would continue this week, adding that “the naira may appreciate to something below 197 currently at the interbank market.”

Foreign exchange dealers said the demand for dollar had reduced compared to what happened before the presidential election.

A currency analyst at Ecobank Nigeria, Mr. Kunle Ezun, had said the market was trading around the general elections and Buhari’s person.

He had said, “The market has been trading around sentiments and emotions, this is why the naira is appreciating; nothing has really changed in the fundamentals. There was high demand for the dollar before the election because some people predicted post-election violence. Now, the game is over and there is no violence. So, the demand for the greenback is abating.

“The market is also trading around the sentiment that Buhari will fight corruption, strengthen institutions and eliminate wastages. But after his inauguration, the market will trade around the fundamentals like the oil price, external reserves and others.”

In a sign of relief, individuals who had stockpiled dollars to hedge against political risk fearing the election could be marred by violence, were exchanging their funds for the naira, Reuters reported.

“We are not going to see much of movement in the pricing of the naira at the interbank market until the central bank reviews the present measure which has stagnated the rate,” a dealer said.

The naira-dollar exchange rate has yet to witness any change at the interbank market.

According to Reuters, the Kenyan shilling is expected to weaken, hurt by negative sentiment after a deadly attack by al Shaabab near the frontier with Somalia threatened its tourism fortunes.

The shilling has lost ground steadily since last year, partly due to a downturn in tourism following attacks by al Shabaab militants. Tourists are a leading source of hard currencies for East Africa’s biggest economy.

The shilling could trade between 92.50-93.20 to the dollar, with a move beyond 93 likely triggering intervention from the central bank, National Bank of Kenya trader, Chris Muiga, said.

Traders said a government bond could lend support to the shilling. Kenya’s central bank has invited bids for a 12-year infrastructure bond worth 25 billion shillings ($270m).

Ghana’s cedi could be buoyed by demand from businesses looking to settle domestic quarterly bills.

The West African currency has weakened by about 11 per cent since January, but looks set to reverse some of those losses, partly helped by a $940m International Monetary Fund aid deal this month that is expected to unlock additional offshore inflows.

“Liquidity has been weak on the local market … and this is likely to hold the dollar/cedi at current levels next week,” Barclays Bank analyst, Michael Akpakli, said.

The outlook points to a firmer Zambian kwacha this week, after the central bank hiked the amount of money commercial banks should deposit with the regulator and as the government plans to resolve a mining tax row with foreign investors.

The Bank of Zambia will raise the statutory reserve ratio to 18 per cent from 14 per cent on Wednesday.

“The increase will reduce liquidity and that should render support to the kwacha,” analyst Maambo Hamaundu told Reuters.

President Edgar Lungu last month directed the finance and mining ministers to adjust royalties on mining firms by April 8, saying the copper-producer could consider temporarily reverting to the less punitive tax regime which was in place in 2014.

Traders predicted a stable shilling on tightening liquidity but some investors were concerned about the impact of a planned increase in government spending.

The Ugandan government is planning to increase spending before the 2016 elections, although the central Bank of Uganda has vowed to use its key interest rate to keep inflation in check.

The shilling traded at 3,000/3,016, weaker than 2,975/2,985 a week ago.

“Liquidity is getting tighter in the market, we see this tightening slowing any weakening of the unit (shilling),” a trader at Bank of Africa, Ahmed Kalule, said.

SOURCE : http://www.punchng.com/business/money/naira-set-to-rise-further-this-week/
ok ooohh
Re: Naira Set To Rise Further This Week by notttty(m): 9:18am On Apr 06, 2015
Even dollar is scared of BUHARI.... according to okorocha on channels yesterday... He said the name of BUHARI brings confidence and send shiver to the heart of the corrupt... the dollar now know Nigerian has a man as president....

1 Like

Re: Naira Set To Rise Further This Week by kazmanbanjoko(m): 9:18am On Apr 06, 2015
The fear of Buhari is thebeginning of wisdom. The fear of Buhari is the beginning of Nigerian systems' sanitation. *Nigerian Army finds Buhari's certificate*Missing $20b found with Zenith bank*NTA calling GMB masters degree holder *Dezieni visits Abdulsalami;*Industrial training fund (ITF) began payment of outstanding fees they have been owing students for more than 2yrs;*Nigerian stock market recorded a gain of ‪#‎906b‬ biggest gain in 50yrs;*Naira made a gain of #27 against the dollar;*Numerous filling stations that were padlocked under the pretext of fuel scarcity suddenly opened gates for business. The war on corruption and indiscipline has already started. sai baba

3 Likes 1 Share

Re: Naira Set To Rise Further This Week by blackjack21(m): 9:18am On Apr 06, 2015
Normality:
Tell us what we don't know.

Summary of this long epistle is.

Abokees doing bureau Du change that seized and hoarded dollars plus their brothers in high places hoarding dollars are bringing them out.

Their brother have won so dollar bills will start surfacing and naira will fall back to normal exchange rate.

Jonah. dem use u play ball abeg, if no be u wey share some dollars give people, dollar for dey N300 to $1.

Speak on what you know.
The bureau is strictly control by the CBN and, its current governor has put them under a slavery yoke.
There were asked to pay millions of naira else they lose the licenses.
And the time dead-lock has passed with more than 3month.
People have lost so much money and, their business stalled.






09:18:00
Mon, Apr 6, 2015

2 Likes

Re: Naira Set To Rise Further This Week by IVORY2009(m): 9:19am On Apr 06, 2015
EroticAngelina:
I have no fvcking idea what this means undecided

Then, must u comment?

2 Likes

Re: Naira Set To Rise Further This Week by eldoradoxx: 9:19am On Apr 06, 2015
BECAUSE JONATHAN REFUSED TO BE IN CHARGE OF HIS GOVERNMENT
Normality:
Tell us what we don't know.

Summary of this long epistle is.

Abokees doing bureau Du change that seized and hoarded dollars plus their brothers in high places hoarding dollars are bringing them out.

Their brother have won so dollar bills will start surfacing and naira will fall back to normal exchange rate.

Jonah. dem use u play ball abeg, if no be u wey share some dollars give people, dollar for dey N300 to $1.

1 Like

Re: Naira Set To Rise Further This Week by sammyj: 9:19am On Apr 06, 2015
grin grin grin
cana882:
e b lyk land don cheap well-well
Re: Naira Set To Rise Further This Week by M4gunners: 9:20am On Apr 06, 2015
Change
Re: Naira Set To Rise Further This Week by azeezInfo(m): 9:20am On Apr 06, 2015
Good news.
For free ICT consult for your establishment contact 07031223337 or on bbm 53375144.

Re: Naira Set To Rise Further This Week by tunapawizzy: 9:21am On Apr 06, 2015
londongal03:
Nonses whats my biz.......GOD BLESS GEJ
Smh
Re: Naira Set To Rise Further This Week by ESMANIA1476(m): 9:22am On Apr 06, 2015
We thank God for the positive change and liberation of Nigerians from the hands of wicked cabal. We can make our orders now. May Almighty God strengthen GMB to do more and more.

"I repeat, corruption will not be tolerated by this administration" GMB -2015.

"What we call corruption in Nigeria is a mere theft" GEJ.

Please, compare and contrast.

1 Like

Re: Naira Set To Rise Further This Week by MKO4ever(m): 9:23am On Apr 06, 2015
Nigeria go beta
Re: Naira Set To Rise Further This Week by tunapawizzy: 9:24am On Apr 06, 2015
EroticAngelina:
I have no fvcking idea what this means undecided
As ignorant as u are, I still find u appealing
Re: Naira Set To Rise Further This Week by sammyj: 9:25am On Apr 06, 2015
Hello Dear, you look prettier than the F word used on this platform. cheesy
EroticAngelina:
I have no fvcking idea what this means undecided
Re: Naira Set To Rise Further This Week by Manred0(m): 9:26am On Apr 06, 2015
Normality:
Tell us what we don't know.

Summary of this long epistle is.

Abokees doing bureau Du change that seized and hoarded dollars plus their brothers in high places hoarding dollars are bringing them out.

Their brother have won so dollar bills will start surfacing and naira will fall back to normal exchange rate.

Jonah. dem use u play ball abeg, if no be u wey share some dollars give people, dollar for dey N300 to $1.
wetin dis mumu dey talk angry

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