The naira appreciated against the United States dollar at the parallel market on Monday to 217, from 221 recorded on Friday.
The naira rose on the back of weak demand for the dollar at the foreign exchange markets. Forex traders linked this to an improved dollar liquidity occasioned by the sustained sales of the greenback by the Central Bank of Nigeria.
Reacting to the rising fortune of the local currency, the Acting President, Association of Bureau De Change Operators, Alhaji Aminu Gwadabe, said, “The market has started feeling the effect of the dollar sales by the central bank in the last two weeks and tight measures introduced to prevent cross boarder currency
trafficking.”
The CBN had increased the frequency of dollar sales to the BDC operators two weeks ago to twice-weekly from the usual once a week previously in a move meant to increase liquidity in the market and support the local currency.
Traders said bank customers were no longer willing to hold dollars after the central bank banned dollar cash deposits into domiciliary accounts. “We expect to see more rallies in the market if the central bank could sustain its support for the naira,” Harrison Owoh, a bureau de change operator said, Reuters reported.
The naira was unchanged at the official interbank market at 197 to the dollar, where the CBN has maintained a tight control by pegging it to the rate of 197 to the dollar
The naira had weakened on the parallel market to as much as 245 to the dollar last month, on persistent dollar demand after central bank limited importers’ access to dollars on the official interbank market to buy a wide range of goods, in order to
save the external reserves.
The local currency later rebounded to 216 at the parallel market as Deposit Money Banks started rejecting cash deposits in dollars a few weeks ago. The naira had, however, weakened to about 223 last week before rising to 217 on Monday Analysts expect the naira to continue rising, saying it is good for the economy.



www.punchng.com/business/money/naira-rises-to-217-against-dollar/

Iph you gwote me into fower. I will

1. Stabulise oil frice worldwide
2. Reduce 1d to N1
3. Declear my ashets
says buhari.

kk

good news

Fabrolistic:
It

Ok

Praise Thy God

@ the fullness of time, that would be 2018, #1=$1. Baba too slowwwwwwwwwwww.

Wake me when one naira is equivalent to 1 dollar

Some one promised us that

Slowly and steadily we are moving..

just2endowed:


Ok

what

We would get there

Slowly but surely.

Bobbystanley:
Wake me when one naira is equivalent to 1 dollar


Some one promised us that

If u cnt provide d vedio evidence or the quoted statement PMB alter, "I wil equate 1dollar to 1naira"

Then u must b an ingr***

Dnt wana blast u thou

Go nd do yer research very well,PMB dnt say so buh he said,

"It is sad that the value of the naira has dropped to more than N230 to one dollar; this does not speak well for the nation’s economy,’’ he said. (PMB march 23, 2015)

Buh d useless media nd blogger mislead many Nigerian...

1.)
Dnt come here nd show me vanguard headings,I want the quoted sentence where PMB alter such statement.

2.)

If u wana argue wif me pls show nairalander yer vedio evidence.


U can choose frm the option's above....

When a good man rule the people are happy. Thank God for PMB

Fabrolistic:

what

i only said ok...i wish i cann comment further?

Dollar is N200 now