The Nigerian Naira appreciated on the parallel market on Tuesday, following the introduction of Travelex to the Bureau De Change segment last week.

The local currency rose N2 to N468 against the dollar from N470 it was traded on Monday. While, on the interbank market the Naira closed at N304.75 to the greenback.

Last week, Travelex commenced the sales of dollar to Bureau De Change operators in the country, and immediately started selling directly to travellers to further boost liquidity in the market and aid economic activities.

Samed Olukoya, a foreign exchange research analyst at Investors King Limited, said “If the CBN and Travelex can sustain the current arrangement it, will help fight speculation and gradually prop up the Naira value against the dollar.”

While, other experts have said the Naira was being battered by market speculators and that the N500 exchange rate to the dollar was not the true value of the local currency.

However, Aminu Gwadabe, the president of the Association of Bureau De Change Operators, said that the authority still have to review the selling price of the dollars to the Bureau De Change operators to encourage Nigerians in Diaspora, whose remittances was being sold to the Bureau De Change operators.

He further stated that the new improvement in the Naira value would discourage the patronage of unlicensed parallel market traders and likely impact the progress made thus far.

http://investorsking.com/naira-maintains-gain-on-parallel-market/

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appreciated by only N2......When i was hoping for a decline gap of N50 since travelex iz involved

McAustin92:
appreciated by only N2......When i was hoping for a decline gap of N50 since travelex iz involved

It takes time for the new initiation to crystallize and filtered through all segments. But once the CBN and Travelex can strike pricing balance to bring all stakeholders on board, I believe the Naira value will improve substantially.

Truth234:


It takes time for the new initiation to crystallize and filtered through all segments. But once the CBN and Travelex can strike pricing balance to bring all stakeholders on board, I believe the Naira value will improve substantially.

The illiquidity at the interbank market is the main headache now.

Adesiji77:


The illiquidity at the interbank market is the main headache now.

That will be taken care of via CBN intermittent intervention, and as long as interest rate remains 14%. The CBN should be able to sustain it, pending when things will normalize.

Good, we will surety get there. Wh en the enemies of progress are flushed out as Jerry Rowling did in Ghana things will take shape.

Naira gaining?? Is it the case of reaching the bottom of the well and so the only other direction to go is upwards OR is the clueless one actually realizing his dream/promise of making $1=N1 ??

This is temporary unless God intervenes

i pray he does before December

gradually

Waiting for 1 naira to equal a dollar.

Or better still #180 = 1 dollar like it was in the so called "past corrupt" regime

Guess the stiffness of the economy is what made this possible, most business men who deal with dollar and imported produce are out of biz or experiencing set back. also ppl paying for dollar services are also experiencing set back.
The Eurodollar market ll definitely favour the naira now in recession. But what ll happen if the recession is over. we ll be back to square one again, as long as we depend on the Ducci's over Ankara & prefer Leeds university over U.I, this story won't change.

simply going back and front. Which way naija

Good News

Rubbish

Mention me when it hit at least 200 naira.
Appreciating by N2 is NO GOOD NEWS

By next week nw, u go hear naira has depreciate.... #Nigeria sha

Truth234:
The Nigerian Naira appreciated on the parallel market on Tuesday, following the introduction of Travelex to the Bureau De Change segment last week.

The local currency rose N2 to N468 against the dollar from N470 it was traded on Monday. While, on the interbank market the Naira closed at N304.75 to the greenback.

Last week, Travelex commenced the sales of dollar to Bureau De Change operators in the country, and immediately started selling directly to travellers to further boost liquidity in the market and aid economic activities.

Samed Olukoya, a foreign exchange research analyst at Investors King Limited, said “If the CBN and Travelex can sustain the current arrangement it, will help fight speculation and gradually prop up the Naira value against the dollar.”

While, other experts have said the Naira was being battered by market speculators and that the N500 exchange rate to the dollar was not the true value of the local currency.

However, Aminu Gwadabe, the president of the Association of Bureau De Change Operators, said that the authority still have to review the selling price of the dollars to the Bureau De Change operators to encourage Nigerians in Diaspora, whose remittances was being sold to the Bureau De Change operators.

He further stated that the new improvement in the Naira value would discourage the patronage of unlicensed parallel market traders and likely impact the progress made thus far.

http://investorsking.com/naira-maintains-gain-on-parallel-market/

Good News. God please help us in this country.

Not news anymore

Not impressive at all,after promising to make the naira equal to the dollar.

am waiting d day 1 naira ll be equal to 1 dollar

I do hope it will continue to appreciate till we finally get there. It's a gradual process though.

The local currency rose N2 to N468 against the dollar from N470 it was traded on Monday. While, on the interbank market the Naira closed at N304.75 to the greenback.

NA REAL RECORD BREAKER

Truth234:
The Nigerian Naira appreciated on the parallel market on Tuesday, following the introduction of Travelex to the Bureau De Change segment last week.

The local currency rose N2 to N468 against the dollar from N470 it was traded on Monday. While, on the interbank market the Naira closed at N304.75 to the greenback.

Last week, Travelex commenced the sales of dollar to Bureau De Change operators in the country, and immediately started selling directly to travellers to further boost liquidity in the market and aid economic activities.

Samed Olukoya, a foreign exchange research analyst at Investors King Limited, said “If the CBN and Travelex can sustain the current arrangement it, will help fight speculation and gradually prop up the Naira value against the dollar.”

While, other experts have said the Naira was being battered by market speculators and that the N500 exchange rate to the dollar was not the true value of the local currency.

However, Aminu Gwadabe, the president of the Association of Bureau De Change Operators, said that the authority still have to review the selling price of the dollars to the Bureau De Change operators to encourage Nigerians in Diaspora, whose remittances was being sold to the Bureau De Change operators.

He further stated that the new improvement in the Naira value would discourage the patronage of unlicensed parallel market traders and likely impact the progress made thus far.

http://investorsking.com/naira-maintains-gain-on-parallel-market/

Chai!!!!

no be small thing

Good News.

Slow and steady will win the race like the story of the tortoise and the hare. You wouldn't believe what happened when they paired them together.

http://www.nairadays.com/2016/10/11/the-tortoise-and-the-hare-story-is-true-after-all/

Not the Change were promised o. Chai there is God o

Naira depreciated to d dollar from 197 to 470 in less than 2yrs. Now it has appreciated with just 2 naira and some idiots are rejoicing. Smh.

Sai baba

Truth234:


It takes time for the new initiation to crystallize and filtered through all segments. But once the CBN and Travelex can strike pricing balance to bring all stakeholders on board, I believe the Naira value will improve substantially.

Everything u people will say, it will take time..untill u die abi. Open ur brain,

Are travellers the cause of the huge demand of USD?

when will #1 = $1

only #2? When d naira is heading towards #500's issorite