The Naira is expected to appreciate in the following week, after the Central Bank of Nigeria (CBN) says it will increase dollar sales to Bureau De Change (BDC) operators.
Experts expressed hope that the development would improve liquidity and also help to boost the Naira.
The local currency currently trades at 410 Naira to a dollar on the parallel market, compared to 398 Naira it traded last week.
Following the increase in demand for dollars, the Naira depreciated further in the parallel market as the exchange rate rose from 407 Naira to 410 Naira per dollar.



www.channelstv.com/2017/04/15/cbn-to-increase-dollar-sales-to-bdc-operators/

Observing

Government should increase export. Strike favorable trade agreements. And stop this reckless throwing around of forex .... Cos it would most likely fail... Unless the underlying conditions are addressed

menstrualpad:
Government should increase export. Strike favorable trade agreements. And stop this reckless throwing around of forex .... Cos it would most likely fail... Unless the underlying conditions are addressed

Nigeria export is increasing daily I don't know why we are not feeling the affect. lalasticlacla mynd44 com and do the needful happy sister

Lol. This shit CBN is doing is shameful. I've always known that it was not sustainable. They made dollar fall from 520 to 365, now it is moving up again. As as today, it is 410 on AbokiFx....mtcheww

Nice

Take from d NIA/Amechi/Muazu money to effect d necesary change

they lack logic...

Good move




GIVE YOUR SKIN A TREAT, CHECK MY SIGNATURE!

ok o



you made good seem like bad

only to make bad seem like worse


APC biggest undoing will always be their heaven on earth promises that lured zombies

Okay

menstrualpad:
Government should increase export. Strike favorable trade agreements. And stop this reckless throwing around of forex .... Cos it would most likely fail... Unless the underlying conditions are addressed

Exactly! We need exports, so we can be paid in foreign currency not imports where we spend the little fx we have buying goods. When exports is increase the economy will start recovering.

tollyboy5:

Nigeria export is increasing daily I don't know why we are not feeling the affect. lalasticlacla mynd44 com and do the needful happy sister

Tell me what other products we export majorly apart from oil? Voodoo economics in practice.

Must you sell to BDCs?

menstrualpad:
Government should increase export. Strike favorable trade agreements. And stop this reckless throwing around of forex .... Cos it would most likely fail... Unless the underlying conditions are addressed

I agree with you. It takes time though. It is more like this government is desperate for some positive news. The artificial method is unnecessary but can you blame them? Things are so bad that Nigerians, not just the government want some positive news.

I just hope it doesn't continue on the long term or lead to the government abandoning the agricultural drive it started.

mykeljosef:
ok o

Dem no talk say dem go reduce am nah...216 wasn't OK, maybe 416 will be...

The most inconsistent administration in the history of Nigeria.

federal government are just gonna complicate things for this country..........why will you start a policy that is not sustainable...... all I see is potential doom on naira because this clueless people will definitely stop "pumping" dollars into the system and the aftermath of that........nobody can predict.......

We have so many mineral resources that are highly exportable, and profitable.. Yet our incompetent government chose to look the other way.. The question ryt now should be "is Nigeria practicing a constructive and an updated economic framework Is it in consonance with the 21st century methods of international trade?

alabi484:

Dem no talk say dem go reduce am nah...216 wasn't OK, maybe 416 will be...

its like someone complaining jollof rice n meat was bad



only to produce yellow garri n salt as an alternative

Very clueless CBN......artificially correcting the exchange rate is not sustainable. A good government will work into putting some fundamentals in place instead of what CBN is doing now.

How long can they keep this up at the expenses of depleting the foreign reserve

CBN keeps pumping out dollars
And we keep finding "orphaned" foreign currencies all over the country
Where's the dollars been pumped into?
Sinkholes?

One of the main reason of increase in rate is the demand to due umra.

I will only take the CBN serious when they unify all rate in same place, having different rates for different purposes encourages round tripping, and honestly the only reason I see why they are not yet unified is because some officials benefiting from it

menstrualpad:
Government should increase export. Strike favorable trade agreements. And stop this reckless throwing around of forex .... Cos it would most likely fail... Unless the underlying conditions are addressed

Exportation is really not the way out. We have to satisfy our basic needs first.

We have to be self sufficient on the this two things

1.Petroleum products
2.Food commodities

If we can achieve this trust me the naira will become the African dollar

Johnrake69:


Exportation is really not the way out. We have to satisfy our basic needs first.

We have to be self sufficient on the this two things

1.Petroleum products
2.Food commodities

If we can achieve this trust me the naira will become the African dollar

We can't do that.

jfleece:
We have so many mineral resources that are highly exportable, and profitable.. Yet our incompetent government chose to look the other way.. The question ryt now should be "is Nigeria practicing a constructive and an updated economic framework Is it in consonance with the 21st century methods of international trade?

It's not financially viable to export raw materials. The world economy rewards those that add value to the raw materials than those that export it at its raw state. Mars chocolate makes more than 10times what Ivory Coast the world largest producer of cocoa make in a year.

effty:
Tell me what other products we export majorly apart from oil? Voodoo economics in practice.

...we export spirituals start selling
pastors

menstrualpad:

We can't do that.

Because we have lazy leaders whose only ambition in life is to buy luxury cars and marry wives with the public funds they looted

The main issue is that majority of the masses are suffering because of naira depreciation. Forget all those grammar and find a simple solution that will benefit all. Make policies that will bring down the prices of goods for common man.

Johnrake69:


Because we have lazy leaders whose only ambition in life is to buy luxury cars and marry wives with the public funds they looted

And more evil followers.

I'm just confused.

felixomor:
Must you sell to BDCs?

This government is the architect of confusion in Nigeria.