Naira stable at N385/$1
source: http://www.eyesoflagos.com/2017/05/naira-stable-at-n3851.html

The Central Bank of Nigeria (CBN) yesterday injected $457.3 million into various segments of the foreign exchange market, even as the naira remained stable at N385 per dollar in the parallel market.



Meanwhile the CBN also disclosed that the Investors and Exporters (I&E) foreign exchange window has so far attracted $600 million from autonomous sources and from the apex bank. Acting Director, Corporate Communications at the Central Bank of Nigeria, Isaac Okorafor, disclosed these developments saying a breakdown of the $457.3 million offered yesterday indicates that both the spot and forwards segments received a total of $267.3 million while the wholesale segment got $100 million.


H said that the SME and invisibles segments comprising of basic travel allowance, tuition fee and medical got and $50 million and $40 million respectively.

He added that the volume of trading on the Investors and Exporters foreign exchange window in the past three weeks on the FMDQ platform revealed that the sum of $600 million has for been sold by both the CBN and autonomous sources.

A survey of the parallel market yesterday revealed that the parallel market exchange rate which closed last week at N385 per dollar closed at the same level yesterday.

The stability was attributed to the expected CBN dollar sale of $20,000 each of the over 3000 bureaux de change (BDCs) today. The naira also maintained its stability at the Investors and Exporters (I&E) foreign exchange window, with exchange rate of N383 per dollar.

Can someone pls tie Bubu down in UK. our bleak condition always improves when he is bed ridden. I don wanna wish him dead but can he remain on sabbatical in UK forever? Thanks.

Okay ooo

Hmmm... What we r asking for is for it to get better. That's all!!!!!

Till It Gets To What APC promised.....

we are going there.

Prices of things still never come down na

But we agreed on #1 = $1



FG, do not breach agreement ooo

nice


goes back to hustling

eyesoflagostv:
Naira stable at N385/$1
source: http://www.eyesoflagos.com/2017/05/naira-stable-at-n3851.html

The Central Bank of Nigeria (CBN) yesterday injected $457.3 million into various segments of the foreign exchange market, even as the naira remained stable at N385 per dollar in the parallel market.



Meanwhile the CBN also disclosed that the Investors and Exporters (I&E) foreign exchange window has so far attracted $600 million from autonomous sources and from the apex bank. Acting Director, Corporate Communications at the Central Bank of Nigeria, Isaac Okorafor, disclosed these developments saying a breakdown of the $457.3 million offered yesterday indicates that both the spot and forwards segments received a total of $267.3 million while the wholesale segment got $100 million.


H said that the SME and invisibles segments comprising of basic travel allowance, tuition fee and medical got and $50 million and $40 million respectively.

He added that the volume of trading on the Investors and Exporters foreign exchange window in the past three weeks on the FMDQ platform revealed that the sum of $600 million has for been sold by both the CBN and autonomous sources.

A survey of the parallel market yesterday revealed that the parallel market exchange rate which closed last week at N385 per dollar closed at the same level yesterday.

The stability was attributed to the expected CBN dollar sale of $20,000 each of the over 3000 bureaux de change (BDCs) today. The naira also maintained its stability at the Investors and Exporters (I&E) foreign exchange window, with exchange rate of N383 per dollar.

Yaaawwnnnnnnn......

24/7 electricity and adequate security.

When i just dey meet sure client


Dem don spoil market for boys ooO

K

Good one, hoarders keep losing.

As long as we sell oil at above $40 per barrel this CBN policy is sustainable and for those saying CBN is wasting dollar they should know that Nigeria earns in dollars while salaries and others are paid in naira as such they need to sell the earn dollars to get naira for government, furthermore despite the regular injection our reserves too has increased.

Personally I believe the equilibrium price of dollars should be N250 in order to also encourage exporters while making life less harsh for the populace that depend on imported goods thereby reducing inflation

Shows that oil dependence is not good for Nigeria

What kind of misleading headline is this ..the naira remains one of the most unstable currencies in the world even though in the last 4 weeks it seems to have found a margin of pseudo stability brought about by by CBN buying it some shock absorption

Only if this could affect the existing price of commodity.

where is ma Aboki

Stable u say? What happen to #1/$1?

nice.. At least the Naira can be 'stable'

Till garri return to 600 nd 300 wen Gej left it then i can appreciate dis

Sometimes I wish Bubu stay on permanent vacation

Reading the first twenty comments, few things I have observed:

1. The reality is gradually sinking in now and Nigerians have started accepting this rate (N380 - N400)
2. We have finally gotten adjusted to this new rate. Nobody is cussing or wailing any more
3. Dollar can never go back to where it was before Buhari took over. (N190 - N210 per dollar)

Finally, WE HAVE BEEN SCAMMED BY APC PROPAGANDA, BIG TIME!!!

I pray they sustain it. It's just doing ping pong.

ojun50:
Till garri return to 600 nd 300 wen Gej left it then i can appreciate dis

Not going to happen unless oil hits $100 and above.

Gradually we are getting there

gbadexy:
I pray they sustain it. It's just doing ping pong.

They can't .Nigerian currency depends right now on how much forex we can earn from oil.

Oil isn't a stable source of forex

China has a strong currency.They also earn much of their forex from being a manufacturing nation. Same for the US and some other countries.

How much where dollar when Gudluk was there, Apc will never no peace

Hm

Akshow:
Can someone pls tie Bubu down in UK. our bleak condition always improves when he is bed ridden. I don wanna wish him dead but can he remain on sabbatical in UK forever? Thanks.

Afonja hypocrite. Your treachery has no second part. We know how much you people want the President dead, so that you will have Osibanjo as president. Look at what you are wishing your president. But you pretend everyday as if you are happy he is still alive. God help you people

chrischina:
How much where dollar when Gudluk was there, Apc will never no peace

Gudluck benefited from high oil prices. And if oil goes back up, Buhari guys will praise him to the skies for doing well with the economy.

Problem is, having an economy based on selling raw materials is not a good economy, especially when prices fall.

If you want a really strong economy, you have to make, create and innovate. Problem is taking that route means an initial period of severe hardship, which neither PDP or APC wants to take.

Strong nations are built on innovations. Not on flogging a resource whose prices rise up and down like the weather

The way naira period dey change ehn, make e do reach menopause make we rest sef