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CBN Injects $482.6m Into Forex Market, Naira Gains - Business - Nairaland

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Naira Gains, Dollar Crashes At Parallel Market / As Naira Gains, Neighbouring Countries Ease Rush For Nigerian Goods / 24 Hours After New Policy, CBN Injects $371m Into Forex Market (2) (3) (4)

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CBN Injects $482.6m Into Forex Market, Naira Gains by Truth234(m): 4:09am On May 31, 2017
The Central Bank of Nigeria, CBN, on Tuesday cushion the economy by injecting a total of $482.6 million into the foreign exchange market.

According to a statement released by its Acting Director, Corporate Communications, Mr Isaac Okorafor in Abuja, this was part of the measures promised by the apex bank to moderate the Naira's value and sustain forex liquidity.

The breakdown of the intervention shows $285.7 million was allocated to the retail Secondary Market Intervention Sales, while $100 million was offered in the Wholesale SMIS auction window.

The invisibles segment, consisting of Personal Travel Allowance, medicals, tuition fees and Basic Travel Allowance was allocated $45 million.

Speaking further, Okorafor expressed optimism that the CBN's objective to converge exchange rate across all forex segments would be achieved soon, and called on all stakeholders to play their respective roles in ensuring the smooth running of the foreign exchange policy.

In April, the economy rebounded slightly after data showed the consumer prices and the economy improved following a series of policies instituted by the CBN to speed up economic recovery and sustain its diversification agenda.

So far, the CBN has injected about $5 billion into the forex market.

The Naira traded at an average of N375 to a dollar in Abuja, Lagos, Kano and Port-Harcourt on Tuesday.

http://investorsking.com/cbn-injects-482-6m-into-forex-market-naira-gains/
Re: CBN Injects $482.6m Into Forex Market, Naira Gains by PapaNnamdi: 4:22am On May 31, 2017
Naira is gaining and there is still hunger everywhere, u ppl ar not serious,



Lemme charge my fone in peace biko

3 Likes

Re: CBN Injects $482.6m Into Forex Market, Naira Gains by mykelmeezy: 4:26am On May 31, 2017
honestly


I've really given up hope on the naira


so news and statement dont move me anymore


I'll only believe reality


if all this gain isnt reflecting on the common man then its useless


until useless banks like unity start using their atm for dollar transaction then IAB

4 Likes

Re: CBN Injects $482.6m Into Forex Market, Naira Gains by nextprince: 4:49am On May 31, 2017
The Naira traded at an average of N375 to a dollar in Abuja, Lagos, Kano and Port-Harcourt on Tuesday.

Actually, if this is at the parallel market, there is a little improvement. CBN, keep it up. Hopefully, at this rate and everything being equal, the Naira may trade around 300/$ before the end of the last quarter.
Long live The Fed Rep of Nigeria.

12 Likes

Re: CBN Injects $482.6m Into Forex Market, Naira Gains by Dottore: 7:32am On May 31, 2017
Ok
Re: CBN Injects $482.6m Into Forex Market, Naira Gains by Nobody: 7:32am On May 31, 2017
grin naijeria and fallacy
Re: CBN Injects $482.6m Into Forex Market, Naira Gains by Aburi001: 7:33am On May 31, 2017
As bubu don travel, dollar will fall again.

Abeg make Buhari remain in London till 2023. grin

Osibaba for 2019 grin

3 Likes

Re: CBN Injects $482.6m Into Forex Market, Naira Gains by Nobody: 7:33am On May 31, 2017
It's still N375 undecided mtchew
Re: CBN Injects $482.6m Into Forex Market, Naira Gains by cooldipo(m): 7:33am On May 31, 2017
We need something sustainable not just father Chris dash out!
Re: CBN Injects $482.6m Into Forex Market, Naira Gains by cyberdurable(m): 7:34am On May 31, 2017
Failed Entity...called Nigeria

abeg where can I buy dollar at cheap rate.. I wan buy new phone for aliexpress

5 Likes

Re: CBN Injects $482.6m Into Forex Market, Naira Gains by Darey207(m): 7:34am On May 31, 2017
Are you an architect or Engineer in Abuja then this opportunity is for you.
Get the chance to learn structural design using Orion and STAAD Pro. in relation to BS CODES standards and Architectural design using AUTOCAD and REVIT ARCHITECTURE .
Interested persons should call Engr. Dare on 09057831550 for more information.
Re: CBN Injects $482.6m Into Forex Market, Naira Gains by Nobody: 7:35am On May 31, 2017
These are the men who give a Bleep

Re: CBN Injects $482.6m Into Forex Market, Naira Gains by experimentist: 7:35am On May 31, 2017
God bless Bet9ja!
Re: CBN Injects $482.6m Into Forex Market, Naira Gains by smartty68(m): 7:36am On May 31, 2017
The injection/intervention has been futile, just spoke with a UBA customer representative about 5mins ago concerning how much the charge on card transactions and was told its #385/$.

Its been hopeless and needless.

1 Like

Re: CBN Injects $482.6m Into Forex Market, Naira Gains by Destined2win: 7:37am On May 31, 2017
How long will this "injection " continue?

1 Like

Re: CBN Injects $482.6m Into Forex Market, Naira Gains by ogobaby23(f): 7:37am On May 31, 2017
Inject indeed
Re: CBN Injects $482.6m Into Forex Market, Naira Gains by Repairnigeria(m): 7:38am On May 31, 2017
nawa for our leaders noise makers
Re: CBN Injects $482.6m Into Forex Market, Naira Gains by Chidex2442(m): 7:38am On May 31, 2017
Donald Duke for president 2019
Re: CBN Injects $482.6m Into Forex Market, Naira Gains by Femich18(m): 7:41am On May 31, 2017
PapaNnamdi:
Naira is gaining and there is still hunger everywhere, u ppl ar not serious,

Lemme charge my fone in peace biko
Nigerians are Nigeria's problem nah... Why won't there still getting hunger when everybody is very selfish and trying to maximize profit at the detriment of others

2 Likes

Re: CBN Injects $482.6m Into Forex Market, Naira Gains by ufumes(m): 7:41am On May 31, 2017
I hope it won't affect the money that would be used to implement the 2017 budget.
Re: CBN Injects $482.6m Into Forex Market, Naira Gains by Vicben(m): 7:42am On May 31, 2017
They are back again
Re: CBN Injects $482.6m Into Forex Market, Naira Gains by crazyABO(m): 7:42am On May 31, 2017
U ppl have come again with this gain and loose abi Aboki will still change it for u at same amount same as bank e no dey change angry

1 Like

Re: CBN Injects $482.6m Into Forex Market, Naira Gains by AroOkigbo(m): 7:44am On May 31, 2017
mtcheew...same story.
Re: CBN Injects $482.6m Into Forex Market, Naira Gains by gagzee(m): 7:45am On May 31, 2017
lies lies lies....
so gtb and co, now sells above Northerners abi?
bunch of useless ppl
Re: CBN Injects $482.6m Into Forex Market, Naira Gains by mybestlove(m): 7:48am On May 31, 2017
CBN is only displaying incompetence. All these dollar injections we've been hearing and still no effect. Why not come up with new and better strategy.
Billions of dollars injected into the forex and the rate remains where it is and, prices of commodities still go up.
Re: CBN Injects $482.6m Into Forex Market, Naira Gains by marvin902(m): 7:56am On May 31, 2017
Femich18:

Nigerians are Nigeria's problem nah... Why won't there still getting hunger when everybody is very selfish and trying to maximize profit at the detriment of others


you said the plain truth...our government is @ fault too but we nigerians are the worst we are ones killing ourselves with our selfish motive..we go just dey hype price with every chance and they will open their stupid mouth and say its dollar even 10naira biscuit dere go hype put am for dollar head

1 Like

Re: CBN Injects $482.6m Into Forex Market, Naira Gains by Sunnah1(m): 8:15am On May 31, 2017
cyberdurable:
Failed Entity...called Nigeria

abeg where can I buy dollar at cheap rate.. I wan buy new phone for aliexpress
I know you're not happy to hear this development. Enemy of progressive government.

1 Like

Re: CBN Injects $482.6m Into Forex Market, Naira Gains by omoadeleye(m): 8:15am On May 31, 2017
nextprince:
The Naira traded at an average of N375 to a dollar in Abuja, Lagos, Kano and Port-Harcourt on Tuesday.

Actually, if this is at the parallel market, there is a little improvement. CBN, keep it up. Hopefully, at this rate and everything being equal, the Naira may trade around 300/$ before the end of the last quarter.
Long live The Fed Rep of Nigeria.



you Dan do your own analyst be that oo?
Re: CBN Injects $482.6m Into Forex Market, Naira Gains by edo3(m): 8:17am On May 31, 2017
experimentist:
God bless Bet9ja!
Dem don pay u?
Re: CBN Injects $482.6m Into Forex Market, Naira Gains by Femich18(m): 8:19am On May 31, 2017
marvin902:



you said the plain truth...our government is @ fault too but we nigerians are the worst we are ones killing ourselves with our selfish motive..we go just dey hype price with every chance and they will open their stupid mouth and say its dollar even 10naira biscuit dere go hype put am for dollar head
Hahahahaha... Everything nah dollapo o... even pure water sef nah dollapo
Re: CBN Injects $482.6m Into Forex Market, Naira Gains by davodyguy: 8:24am On May 31, 2017
smartty68:
The injection/intervention has been futile, just spoke with a UBA customer representative about 5mins ago concerning how much the charge on card transactions and was told its[b] #385/$.[/b]

Its been hopeless and needless.

Gtbank does 360 I purchased true aliexpress even when dollar was 380 at Black market
Re: CBN Injects $482.6m Into Forex Market, Naira Gains by experimentist: 8:27am On May 31, 2017
edo3:
Dem don pay u?
Yes Boss! Dem pay me for die minute o! Na God o.

1 Like

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