Again Naira falls, sells at N465 per dollar ON MARCH 3, 20179:26 PMIN NEWSCOMMENTS The Naira on Friday depreciated against the dollar at the parallel market after posting days of appreciation. The nation’s currency lost N7 to exchange at N465 to a dollar after closing at N458 on Thursday, while the Pound Sterling and the Euro traded at N542 and N480. At the Bureau De Change (BDC) window, the Naira traded at N399 to a dollar, CBN controlled rate, while Pound Sterling and the Euro closed at N610 and N520. Trading at the interbank market saw the Naira sold at N305.25 to a dollar Naira-Dollar CBN injected over 500million dollars into the market, to boost liquidity, but the Naira continued to depreciate. Traders in the market expressed concern about the depreciation of the Naira in spite the gains earlier recorded. Alhaji Aminu Gwadabe, President, Association of Bureau De Change Operators of Nigeria (ABCON), said there was need for a review of the distribution mechanism. “Many banks are selling to only clients with current accounts and not to savings account holders and there is also increasing demand for forex from our neighbouring countries. “The different applicable exchange rates and volumes with Travelex and banks need to be harmonised and with that of BDCs to reduce friction,” Gwadabe said.

Read more at: http://www.vanguardngr.com/2017/03/naira-falls-sells-n465-per-dollar/

Jonah

Is Bubu back with his policy? Thought his policies affecting the Naira were dropped by the Ag president.

Adults thinking/talking like kids.

Only kids appreciate the mothers alone because of Cerelac rather than both parents.

This naira self. This 'change' government don tire me

I no talk am according to the most unstable character in nairaland tonyebarcanister the both are epic failures

Osinbanjo is a failure like his master Buhari the dullard

Sai buhari

After all the hype by Yoloba and all the Lagos-Ibadan express media to make Osinbande look presidential, now the reality is dawning on them.

Production and export are the keys to boosting the value of the naira. Any other way lead us to going round and round

I suspect say Buhari don enter Nigeria

shall we begin?

Op, must be mad...... Why did u have to use the word "again" for something that has been appreciating since.... It's only shows ur lever of hatred and pessimism

Buhari and his folks go dey Laf Nigerians wey dey Hale Osinbade magic wand.

Only mediocres believe the flux, forex market is about demand and supply. Even with increase govt. forex earnings, I still support they continue with forex supply tightening, we Nigerians still have a lot to learn about being productive.

It will take so many months to correct the damage caused by Buhari.
Buhari needs to leave the scene entirely for Nigeria to progress. No sane investor with his dollars will come close to Nigeria even in Buhari's sick state. The allocation of our forex to northern elites is still happening even in buhari's vegetable status.

Pumping in forex into the market by Osibanjo is only a knee jerk reaction which does not threaten speculation. Only a free market supported by FDI inflow, peace in the ND, sustained export and free money movements without fear of EFCC will restore the naira and all these can't happen in a short term.

But for a start, Buhari has got to leave the scene voluntarily or involuntarily

Osi osi.... U know we have bad mouth.... It won't take us anything to switch from praises to soul sapping insults.... Better know what you are doing

UmuEri:
After all the hype by Yoloba and all the Lagos-Ibadan express media to make Osinbande look presidential, now the reality is dawning on them.

Silly!

Chai zanders

The sad reality is that some people just reached orgasm through this news...

wjhn people were jubilating I told someone to wait lets see. Its too early cosI know say better tin no dey last for this country

Nothing good comes from apc govt

It will rise back.

oya Ben Bruce come and defend osinbajo on dis

Let it return to #150/dollar then I will comment

The fire Brigade approach no work again

highly unstable.

i just hope 'osibande ' hasn't been under any threat shaaa.

UmuEri:
After all the hype by Yoloba and all the Lagos-Ibadan express media to make Osinbande look presidential, now the reality is dawning on them.

Quit blaming Osibanjo and Chanel your blames to your Biafran brother, the CBN governor Godwin Emefele, who seems to be the worst CBN governor Nigeria ever had. His cluelessness made him dish out the wrong policies that force the naira to keep falling and the economy...................................

Must u go to the parallel market? For once check with the REAL market