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Nairaland Forum / Nairaland / General / Business / Naira Rises To N389/$ As Banks Buy 29% Of Cbn’s Dollar Offer (9122 Views)
Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs / Naira Shortage Forces Banks To Boycott CBN Dollar Sale / Naira Strengthens To N435/$ On CBN Dollar Glut (2) (3) (4)
Naira Rises To N389/$ As Banks Buy 29% Of Cbn’s Dollar Offer by Flashmove: 4:58am On May 05, 2017 |
As a result the parallel market exchange rate dropped from N391 per dollar to N389 per dollar. Confirming this to Vanguard, President, Association of Bureaux De Change Operators of Nigeria (ABCON), Alhaji Gwadabe said that BDCs have already paid to purchase another $20,000 from the CBN which would be delivered today, expressing optimism that the supply will further enhance the appreciation of the naira against the dollar. Meanwhile, the CBN said that banks and other authorized dealers have again failed to fully subscribe to the $150 million it offered yesterday. It stated that the dealers could only pick the sum of $43.5 million, which represents 29 per cent of the $150 million offered for subscription in the wholesale segment of the foreign exchange market. Confirming this development, the apex Bank’s spokesman, Isaac Okorafor, reaffirmed the Bank’s position to sustain the intervention with a view to making foreign exchange available for all genuine transactions eligible for foreign exchange through the CBN window. Mr. Okorafor also allayed the fear over the dwindling subscription by authorized dealers noting that the development merely goes to confirm the extent of liquidity in the foreign exchange market and the determination of the CBN to sustain the intervention aimed at ensuring stability in the market. Read more at: http://www.vanguardngr.com/2017/05/naira-rises-n389-banks-buy-29-cbns-dollar-offer/ |
Re: Naira Rises To N389/$ As Banks Buy 29% Of Cbn’s Dollar Offer by LionDeLeo: 5:10am On May 05, 2017 |
Banks are no longer interested in forex, hahaha. I understand some banks were sanctioned for playing against the rules. No longer business-as-usual. God bless PMB God bless VPYO God bless Godwin Emefiele God bless patriotic Nigerians Long live The Fed Rep of Nigeria. 18 Likes 2 Shares |
Re: Naira Rises To N389/$ As Banks Buy 29% Of Cbn’s Dollar Offer by Flashmove: 5:22am On May 05, 2017 |
LionDeLeo: Nigeria is like a White man's dead body, if you carry it up is not good, If you carry it down its not good too. All these blames should go to Lugard for coming to Africa. 2 Likes |
Re: Naira Rises To N389/$ As Banks Buy 29% Of Cbn’s Dollar Offer by Nobody: 5:27am On May 05, 2017 |
Good |
Re: Naira Rises To N389/$ As Banks Buy 29% Of Cbn’s Dollar Offer by RealLordZeus(m): 6:56am On May 05, 2017 |
They said the darkest place is beside the candle, I believe removing the ban placed on card will improve the fate of our Naira, Coz little biz sourcing forex from the parallel market can used their cards there reducing the pressure on the parallel market, it will also ease the forex tension. They can control our spending by limiting daily transactions. Well what did I know, just my opinion tho 3 Likes |
Re: Naira Rises To N389/$ As Banks Buy 29% Of Cbn’s Dollar Offer by Flashmove: 7:14am On May 05, 2017 |
RealLordZeus: You are very right, I dont know why They cant employ fresh graduate to work out these issues..... I tire for Nigeria Matter.... 1 Like |
Re: Naira Rises To N389/$ As Banks Buy 29% Of Cbn’s Dollar Offer by Islie: 7:28am On May 05, 2017 |
This is good news...... But the price of commodity is still high in the market. Until that is reduced....... I will just sitdown look Lalasticlala......see news ooooooooo 1 Like |
Re: Naira Rises To N389/$ As Banks Buy 29% Of Cbn’s Dollar Offer by alegbeleye(m): 7:32am On May 05, 2017 |
Shior. |
Re: Naira Rises To N389/$ As Banks Buy 29% Of Cbn’s Dollar Offer by slawomir: 7:32am On May 05, 2017 |
let's just hope and pray for a better Nigeria 1 Like |
Re: Naira Rises To N389/$ As Banks Buy 29% Of Cbn’s Dollar Offer by Nobody: 7:32am On May 05, 2017 |
want this thing to go back to 500 ,cos there is still no diffrence in Market price 7 Likes |
Re: Naira Rises To N389/$ As Banks Buy 29% Of Cbn’s Dollar Offer by Lilaex: 7:33am On May 05, 2017 |
I don't really giv a fvck make I go fry my akamu |
Re: Naira Rises To N389/$ As Banks Buy 29% Of Cbn’s Dollar Offer by PotatoSalad(m): 7:34am On May 05, 2017 |
Same old, Same old. Sips Goko cleanser |
Re: Naira Rises To N389/$ As Banks Buy 29% Of Cbn’s Dollar Offer by kidman96(m): 7:34am On May 05, 2017 |
Re: Naira Rises To N389/$ As Banks Buy 29% Of Cbn’s Dollar Offer by Victornezzar: 7:34am On May 05, 2017 |
Anybody dat celebrate here is a zombie It's just falling and rising Ordinary Ghana.......deir currency is better dan ours |
Re: Naira Rises To N389/$ As Banks Buy 29% Of Cbn’s Dollar Offer by publicenemy(m): 7:35am On May 05, 2017 |
G |
Re: Naira Rises To N389/$ As Banks Buy 29% Of Cbn’s Dollar Offer by publicenemy(m): 7:36am On May 05, 2017 |
LionDeLeo: God bless you and your family |
Re: Naira Rises To N389/$ As Banks Buy 29% Of Cbn’s Dollar Offer by Iamdmentor1(m): 7:36am On May 05, 2017 |
But price of commodities keep increasing I no longer trust the Nigerian media, always misleading people. This week, I read that Shekau was injured in an airstrike, next week, it would be "military pursued Shekau for 5 hours, he sustained injuries". Different lies are told everyday to placate our anger! 1 Like |
Re: Naira Rises To N389/$ As Banks Buy 29% Of Cbn’s Dollar Offer by Eskdale(m): 7:39am On May 05, 2017 |
Re: Naira Rises To N389/$ As Banks Buy 29% Of Cbn’s Dollar Offer by smartty68(m): 7:39am On May 05, 2017 |
Kai! Aboki 1 Like
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Re: Naira Rises To N389/$ As Banks Buy 29% Of Cbn’s Dollar Offer by buchilino(m): 7:40am On May 05, 2017 |
NIGERIANS N HYPOCRISY. UNDER GEJ, NAIRA WAS 150, BUT DEY CRUCIFIED HIM. UNDER BUHARI, IT'S $1TO 389, DEY SAY BUHARI IS WORKING. 7 Likes 1 Share |
Re: Naira Rises To N389/$ As Banks Buy 29% Of Cbn’s Dollar Offer by twosquare(m): 7:40am On May 05, 2017 |
I wonder why people love to celebrate mediocrity. Please, what difference therein is between 391&389? This is pathetic... When you're tired, you will do the necessary things meant to bring the exchange rate down, and not this artificial nonsense. 4 Likes |
Re: Naira Rises To N389/$ As Banks Buy 29% Of Cbn’s Dollar Offer by KingLennon(m): 7:40am On May 05, 2017 |
Naira have seen ups and downs like an elevator. Some Nigerians are hypocrites, when it was 150naira they blamed GEJ and cursed him. Now its 389naira they say Buhari is working. I just don't get it 1 Like |
Re: Naira Rises To N389/$ As Banks Buy 29% Of Cbn’s Dollar Offer by shegzan(m): 7:41am On May 05, 2017 |
naira just dey rise and fall anyhow... May God save Nigeria!! |
Re: Naira Rises To N389/$ As Banks Buy 29% Of Cbn’s Dollar Offer by jidxin(m): 7:43am On May 05, 2017 |
Flashmove:and u called this rise? 2 Likes |
Re: Naira Rises To N389/$ As Banks Buy 29% Of Cbn’s Dollar Offer by adedayo3193(m): 7:44am On May 05, 2017 |
I naira=I dollar 1 Like
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Re: Naira Rises To N389/$ As Banks Buy 29% Of Cbn’s Dollar Offer by smartty68(m): 7:44am On May 05, 2017 |
CBN should remove the limits on Naira MasterCard, this would also help in relieving pressure in the FX markets |
Re: Naira Rises To N389/$ As Banks Buy 29% Of Cbn’s Dollar Offer by maxiuc(m): 7:45am On May 05, 2017 |
Naira just be like Lazarus Today e go raise knowing fully well that it will crash Our president is in aso rock drink fura through pipe God is always alife 1 Like |
Re: Naira Rises To N389/$ As Banks Buy 29% Of Cbn’s Dollar Offer by davodyguy: 7:46am On May 05, 2017 |
jidxin:it is a fall |
Re: Naira Rises To N389/$ As Banks Buy 29% Of Cbn’s Dollar Offer by Flashmove: 7:48am On May 05, 2017 |
jidxin: No be me call ooo... I never even brush my mouth, how i wan take talk...... Na CBN oooo.. Hold them... |
We Buy Waste Plastic Bottles Of Lacasera @ The Best Price Anywhere In 9ja. / Banks’ Borrow N3.03trn From CBN, Up By 835% In 22 Days / Would You Buy A Car With A Bank Loan?
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