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Naira Rebounds As CBN Intervene - Business - Nairaland

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Naira Rebounds From One-week Low / Naira Steady Against Dollar, Rebounds Slightly Against Euro And Pounds / Naira Rebounds, Gains Across Markets (2) (3) (4)

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Naira Rebounds As CBN Intervene by destinyazyz: 8:45pm On Apr 04, 2017
After one week of depreciation, the naira appreciated against the dollar at the parallel market on Tuesday, trading at 390.

The nation’s currency traded at N380 (buying rate), and N390 (selling rate), stronger than N395 recorded on Monday, while the pound sterling and euro closed at N480 and N415 respectively.

At the bureau de change (BDC) window, the naira was sold at N362 to the dollar, while pound sterling and the euro closed at N483 and N430 respectively.

Trading at the interbank market saw the naira close at N306.25.

Traders at the market said the intervention by the Central Bank of Nigeria (CBN) at the different segments of the foreign exchange market was driving the strengthening of the naira against the dollar.

Aminu Gwadabe, president, Association of Bureau De Change Operators of Nigeria (ABCON) had predicted the appreciation of the naira.

Gwadabe said the improved inflows of diaspora remittances into the economy in spite of falling oil prices would fast-track rates convergence and unification.

The CBN remained resolute in its efforts to boost liquidity at the interbank market and the BDC sector of the foreign exchange market.

The apex bank had earlier directed BDC operators to credit their balances as the apex bank made moves to increase the apportioned amount to the latter from $8,000 to $10,000 and sell forex to them twice weekly.

http://www.cospileaks.com/index.php/2017/04/04/naira-rebounds-as-cbn-intervene/
cc oluwaseun osewa

Re: Naira Rebounds As CBN Intervene by Fmartin(m): 8:47pm On Apr 04, 2017
the 3rd person below me is a real example of someone who Believe In Miracles grin
Re: Naira Rebounds As CBN Intervene by michoade(m): 8:47pm On Apr 04, 2017
That's good.
Re: Naira Rebounds As CBN Intervene by ngmgeek(m): 8:50pm On Apr 04, 2017
Good
Re: Naira Rebounds As CBN Intervene by farouk0403(m): 9:09pm On Apr 04, 2017
I promise you naira will soon gain ground,

recession will be over,

legislators will resolve with the executives,

fayose will decamp to Apc

Buhari will step down in 2019

I see an igbo man as vp in 2019

Bokoharam will be defeated

Nigeria will be 60% corruption free by the end of 2018

Nnamdi kanu will have second thought on biafra when release.

Fulani miscreant will be arrested and come to order

Name checkers will repent.

And lastly

Each and every nairaland member that is jobless will have a job.
Re: Naira Rebounds As CBN Intervene by kunlexy1759(m): 9:33pm On Apr 04, 2017
farouk0403:
I promise you naira will soon gain ground,

recession will be over,

legislators will resolve with the executives,

fayose will decamp to Apc

Buhari will step down in 2019

I see an igbo man as vp in 2019

Bokoharam will be defeated

Nigeria will be 60% corruption free by the end of 2018

Nnamdi kanu will have second thought on biafra when release.

Fulani miscreant will be arrested and come to order

Name checkers will repent.

And lastly

Each and every nairaland member that is jobless will have a job.
nice prophecy/forecast
Re: Naira Rebounds As CBN Intervene by DeepEyes: 11:48pm On Apr 04, 2017
A more drastic appreciation- parallel to the drastic depreciation we experienced- would be greatly appreciated!

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