External Reserves Rise Further, Now $25.4bn - Politics - Nairaland
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Foreign Reserves Rise To $30.5B As CBN Targets $40B Before Year End / External Reserves Rise By $1bn In Two Weeks / External Reserves Rise Further To N26.2bn (2) (3) (4)
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| External Reserves Rise Further, Now $25.4bn by Truth234(m): 5:38am On Dec 27, 2016 |
The nation’s foreign exchange reserves have risen further to $25.4bn, according to the latest data obtained from the website of the Central Bank of Nigeria. In less than one week, the reserves rose by almost $300m from $25.084bn recorded on December 16, 2016 to $25.361 on December 22, 2016, the CBN data showed This indicated that the foreign exchange reserves had risen to almost four-month high. The last time the reserves recorded something close to this figure was on September 2 when it had the balance of $24.361bn. The nation’s fast-depleting reserves had recorded $23.89bn low on October 19. The reserves have dropped by 15.9 per cent from last year when they closed at $29.7bn. At the end of November, the reserves stood at $24.77bn, up from $23.95bn on October 31. The CBN data showed that the foreign exchange reserves declined to $24.92bn on September 14 from $25.11bn on September 9. Currency and economic experts are not sure if the tiny upticks in the external reserves’ level are sustainable amid a falling naira and acute shortage of dollar in the foreign exchange markets and the economy. “We are not sure the extent this can go. Currently, the FX market is not a free-float one where the interplay of demand and supply determines price and volume. The uptick is not as a result of supply over demand. It happens when there is a slowdown in the allocation of FX,” the Chief Executive Officer, Cowry Asset Management Limited, Mr. Johnson Chukwu, said. A senior associate in investment banking at Afrinvest, a research and investment firm, Mr. Ayodeji Ebo, said the gradual increase might only be sustainable if the oil price maintained its current level and there was a continuous ramp up in oil production. The CBN had on June 20 lifted its 16-month-old currency peg and auctioned about $4bn on the spot and futures market to clear a backlog of dollar demand to help boost interbank market trading. The reserves fell from $26bn on August 4, 2016 to $25.97bn on August 5 as the central bank stepped up dollar sales to boost liquidity at the interbank market and support the ailing naira. The naira, which touched an all-time low of 365.25 per dollar on August 18 at the official market, has consistently closed around 305.5 in recent weeks. http://investorsking.com/external-reserves-rise-further-now-25-4bn/ 4 Likes 1 Share
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| Re: External Reserves Rise Further, Now $25.4bn by mare23ayo(m): 6:05am On Dec 27, 2016 |
We getting there 6 Likes |
| Re: External Reserves Rise Further, Now $25.4bn by BeClever: 6:11am On Dec 27, 2016 |
mare23ayo: So if Buhari gets you back to where you were with a broken leg and damaged eyes after his 8yrs in office, you would still not see anything wrong? 12 Likes 1 Share
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| Re: External Reserves Rise Further, Now $25.4bn by blackpanda: 6:14am On Dec 27, 2016 |
It is well. Shame to hateful naysayers 4 Likes |
| Re: External Reserves Rise Further, Now $25.4bn by blackpanda: 6:16am On Dec 27, 2016 |
[s] BeClever:[/s] Pls shut up. 44 Likes |
| Re: External Reserves Rise Further, Now $25.4bn by BeClever: 6:21am On Dec 27, 2016 |
blackpanda: I can understand you position.. When hunger couldn't let you wait for the real change you were promised and everything sounds good to you.. A man broke your father's mansion and squats you in his BQ, frustration will make you think he has tried for you.. Buhari till 2023...Anuofia! 10 Likes |
| Re: External Reserves Rise Further, Now $25.4bn by Jafar1: 6:30am On Dec 27, 2016 |
mare23ayo:getting where? 11 Likes 1 Share |
| Re: External Reserves Rise Further, Now $25.4bn by seunmsg(m): 6:30am On Dec 27, 2016 |
The reserves will get better in 2017 since crude oil price is expected to remain steady at above $50 during the year and hopefully, our brothers from the Niger Delta region will stop the needless attacks on oil facilities. 11 Likes |
| Re: External Reserves Rise Further, Now $25.4bn by Elkay3: 6:32am On Dec 27, 2016 |
I love good news. 2 Likes |
| Re: External Reserves Rise Further, Now $25.4bn by Stalwert: 6:33am On Dec 27, 2016 |
BeClever: Really just shut up.... By getting us back to where we were 8 years you mean BH being rehabilitated to the extent Abuja was attacked? Daylight robbery of our treasury by every fool a drunk idiotu wanted to stewl from? Or when money meant for fertilizers were not paid for up to a year? Oga please shut up Jonathan couldn't have left Aso Rock with the brains of his supporters. ... 28 Likes 2 Shares |
| Re: External Reserves Rise Further, Now $25.4bn by BeClever: 6:35am On Dec 27, 2016 |
seunmsg: 'our brothers' mtcheww! Ass licking isn't supposed to be natural.. But I guess it come naturally to u and ur folks. 6 Likes |
| Re: External Reserves Rise Further, Now $25.4bn by buharimustlive: 6:37am On Dec 27, 2016 |
One of GEJ achievement. 2 Likes |
| Re: External Reserves Rise Further, Now $25.4bn by seunmsg(m): 6:38am On Dec 27, 2016 |
BeClever: No matter the disagreement, we are still brothers and compatriots. 7 Likes |
| Re: External Reserves Rise Further, Now $25.4bn by BeClever: 6:40am On Dec 27, 2016 |
Elkay3: If this shitty news sounds nice to your ear then... Wait for it.... Wait for it.. $1 is now N485 a drop from N486.. You people are irredeemable! 6 Likes |
| Re: External Reserves Rise Further, Now $25.4bn by DropShot: 6:46am On Dec 27, 2016 |
I am learning to ignore some trolls and dull posters on this forum. I hope I can sustain it. Imagine some people already belly-aching at the prospect of the current administration getting us back to where we were four years ago; forgetting or deliberately ignoring the facts of the unparalleled damage done to our economy by their thieving heroes who later sponsored militants to frustrate government's efforts to save the battered economy. They're equally pretending not to know that our major forex earners suffered a huge tumble such that we have been unable to earn a third of what their thieving uncles earned and looted. They shall be shamed soon. 19 Likes 5 Shares |
| Re: External Reserves Rise Further, Now $25.4bn by BeClever: 6:47am On Dec 27, 2016 |
seunmsg: Peeps like you are reason Nigeria remains a shithole.. You keep the said brother close but, kept your dagger closer.. As soon as he turned his back on trust to your overpraise, a solemn service will be said in his honor.. 5 Likes 1 Share |
| Re: External Reserves Rise Further, Now $25.4bn by Elkay3: 6:55am On Dec 27, 2016 |
BeClever: Does that change what I said? I love good news. 9 Likes 1 Share |
| Re: External Reserves Rise Further, Now $25.4bn by iokpebholo: 6:57am On Dec 27, 2016 |
Thought it was 30billion when uncle bubu took over? 10 Likes |
| Re: External Reserves Rise Further, Now $25.4bn by BeClever: 6:58am On Dec 27, 2016 |
Stalwert: Fools like you are deaf when SGF turned a grass cutter... When DSS has something to say about Magu. . You couldn't even ask what up to 75% and 100% of 2015 and 2016 respective budget allocations were used on since recession induced hunger made you to start using Kunu as stew on your queue-to-purchase Lake rice.. Okoko! 9 Likes |
| Re: External Reserves Rise Further, Now $25.4bn by seunmsg(m): 7:03am On Dec 27, 2016 |
BeClever: Truly, I think you need to shut up. 9 Likes |
| Re: External Reserves Rise Further, Now $25.4bn by Stalwert: 7:13am On Dec 27, 2016 |
[s] BeClever:[/s] Nairalanders should gather food for this man oh... hunger dey cause madness oh 11 Likes
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| Re: External Reserves Rise Further, Now $25.4bn by Stalwert: 7:14am On Dec 27, 2016 |
iokpebholo: Thought it was over $60 billion when Jonathan took over? 18 Likes |
| Re: External Reserves Rise Further, Now $25.4bn by iokpebholo: 7:16am On Dec 27, 2016 |
Stalwert:sorry I didn't know a zombie is awake this morning  8 Likes |
| Re: External Reserves Rise Further, Now $25.4bn by Atiku2019: 7:18am On Dec 27, 2016 |
Any Addition is an Improvement. Kudos |
| Re: External Reserves Rise Further, Now $25.4bn by Corrinthians(m): 7:18am On Dec 27, 2016 |
Shameful figures for a country so blessed with both human and natural resources. Until we get to that point where we can quote figures like 150billion dollars, all this is nothing but piecemeal to me. 5 Likes |
| Re: External Reserves Rise Further, Now $25.4bn by Stalwert: 7:25am On Dec 27, 2016 |
iokpebholo: Wailing zombie .... 8 Likes
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| Re: External Reserves Rise Further, Now $25.4bn by XXLDICK(m): 8:15am On Dec 27, 2016 |
DropShot: Four years ago, GEJ and PMB haven't done so much damage |
| Re: External Reserves Rise Further, Now $25.4bn by emymeeky: 8:15am On Dec 27, 2016 |
Let it reflect on the price of onions 5 Likes |
| Re: External Reserves Rise Further, Now $25.4bn by Nobody: 8:15am On Dec 27, 2016 |
Na lie 1 Like |
| Re: External Reserves Rise Further, Now $25.4bn by seguno2: 8:17am On Dec 27, 2016 |
And recession bites harder under the leadership of our Dullard-in-Chief, DiC 4 Likes |
| Re: External Reserves Rise Further, Now $25.4bn by bettercreature(m): 8:18am On Dec 27, 2016 |
What a dullard as the IPOD YOUTH use to call him Saving money while my FORM M has been submitted since september and No dollar till now Inflation will soon reach 50% 3 Likes |
| Re: External Reserves Rise Further, Now $25.4bn by seguno2: 8:18am On Dec 27, 2016 |
Stalwert: Source please otherwise stop spreading propaganda, lies and rumours. 5 Likes |
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