NAIRA DEPRECIATES TO N367/$1 AS MPC MEETING CONTINUES TODAY
Source : http://www.eyesoflagos.com/2017/07/naira-depreciates-to-n3671-as-mpc.html

The naira falls yesterday to N367 against the Dollar on the parallel market from N376 it opened for trading as the Central Bank of Nigeria (CBN) Monetary Policy Meeting commences today (Tuesday).
The sell side of the naira exchange rate against the pound also dropped by N3.00, to close at N475 to the pound on the parallel market yesterday, as against the N472 it opened for trading. However, the naira remained flat at N420 against the euro.
For the Investors/Exporters Foreign Exchange (IEFX) window, the naira against the Dollar opened at N365.96 and closed at N366.37 while at the Inter-bank rate, it remained at N305.8. Uncertainty continued to surround the outcome of the CBN’s Monetary Policy Meeting that commenced on Monday as speculators trade the foreign exchange market with caution.
The naira appreciated last week attributable to CBN’s injection of $195 million — comprising $100 million (via the wholesale window), $50 million, and $45 million (via the SMEs and Invisibles windows respectively) – into the foreign exchange market.
The naira – in the interbank market last week – appreciated by 0.03 per cent and 0.49per cent against the dollar and pound to N305.80 and N409.36, respectively, but depreciated by 1.83 per cent against the Euro to N367.15. In the parallel market, it appreciated against dollar and the pound by 0.54per cent and 0.42per cent to N366 and N470, respectively, while the naira against euro was flat at N420.
In a deviation from the interbank and parallel market, the naira in the IEFX window lost by 0.98per cent against the dollar to N366.37. Although experts had predicted that the Monetary Committee might hold interest rate at 14 per cent and Cash Reserve Ratio at 22.5 per cent. They expressed that the weekly invention of CBN will aid the nation’s economy in exiting the current recession as the manufacturing and non-manufacturing activities continued to increase.
Managing director/chief executive officer of Financial Derivatives Company Limited, Mr. Bismarck Rewane explained to EYES OF LAGOS that the CBN’s rates might remain unchanged. The CBN in a notice to commercial banks announced plans to sell foreign exchange to manufacturers, airlines, fuel importers, and agriculture businesses at a special auction to clear backlog of foreign exchange obligations this week.
Researchers at Cordros capital said, the impact on the Naira will be largely reflected across segments of the foreign exchange market. Thus, we expect the Naira to appreciate further against the dollar in the week, while remaining stable against the pound and euro.”

I SEE

OK

I found out Nigeria is finished when I changed this and got N710,000



Indeed
There was a country

Dis country sef

aiit

Naira don fall for ground o... Masham masham

Issorait!

brunofarad:
I found out Nigeria is finished when I changed this and got N710,000



Indeed
There was a country

oga ho much dey there I mean d $

GTBank has been charging me NGN 373.77 on international transactions.

Don't know between the banks and parallel market crooks who's the Devil and who's the deep blue sea.

Gosh!

online international investment/business is the best way to go as of now. Naira is fast depreciating and losing value.

I see

Keep calm my peepo, we still have $30B external reserve to pump in. I guarantee it will be $1 to #200 after we empty our reserve, which is a nobel acheivement if you ask me.

Can we also lay blame on PDP 16years rule.

APC wherever you guys are

May this locate all of you

Some people have no thinking and deductive brains at all.

The news says

The naira falls yesterday to N367 against the Dollar on the parallel market from N376 it opened for trading as the Central Bank of Nigeria (CBN) Monetary Policy Meeting commences today (Tuesday).

Is this a fall or appreciation?

Na wa oo. People can't even differential again

It started at N376
then fell to N367

is that not gain?

And yet the price of commodity is still on the high side...

brunofarad:
I found out Nigeria is finished when I changed this and got N710,000



Indeed
There was a country

Beware of Evans

benueguy:
Naira don fall for ground o... Masham masham

let me call my Aba vocalist, this song go make brain die

Millions of dollars have been injected into our forex market for months and still naira have not reach 350. Nawa

As long as my Bitcoin investment with GeneX keeps pumping in real cash, wetin concern me with naira falling or prostrating.

Is this a fall or appreciation?

eyesoflagostv:
NAIRA DEPRECIATES TO N367/$1 AS MPC MEETING CONTINUES TODAY
Source : http://www.eyesoflagos.com/2017/07/naira-depreciates-to-n3671-as-mpc.html

The naira falls yesterday to N367 against the Dollar on the parallel market from N376 it opened for trading as the Central Bank of Nigeria (CBN) Monetary Policy Meeting commences today (Tuesday).
The sell side of the naira exchange rate against the pound also dropped by N3.00, to close at N475 to the pound on the parallel market yesterday, as against the N472 it opened for trading. However, the naira remained flat at N420 against the euro.
For the Investors/Exporters Foreign Exchange (IEFX) window, the naira against the Dollar opened at N365.96 and closed at N366.37 while at the Inter-bank rate, it remained at N305.8. Uncertainty continued to surround the outcome of the CBN’s Monetary Policy Meeting that commenced on Monday as speculators trade the foreign exchange market with caution.
The naira appreciated last week attributable to CBN’s injection of $195 million — comprising $100 million (via the wholesale window), $50 million, and $45 million (via the SMEs and Invisibles windows respectively) – into the foreign exchange market.
The naira – in the interbank market last week – appreciated by 0.03 per cent and 0.49per cent against the dollar and pound to N305.80 and N409.36, respectively, but depreciated by 1.83 per cent against the Euro to N367.15. In the parallel market, it appreciated against dollar and the pound by 0.54per cent and 0.42per cent to N366 and N470, respectively, while the naira against euro was flat at N420.
In a deviation from the interbank and parallel market, the naira in the IEFX window lost by 0.98per cent against the dollar to N366.37. Although experts had predicted that the Monetary Committee might hold interest rate at 14 per cent and Cash Reserve Ratio at 22.5 per cent. They expressed that the weekly invention of CBN will aid the nation’s economy in exiting the current recession as the manufacturing and non-manufacturing activities continued to increase.
Managing director/chief executive officer of Financial Derivatives Company Limited, Mr. Bismarck Rewane explained to EYES OF LAGOS that the CBN’s rates might remain unchanged. The CBN in a notice to commercial banks announced plans to sell foreign exchange to manufacturers, airlines, fuel importers, and agriculture businesses at a special auction to clear backlog of foreign exchange obligations this week.
Researchers at Cordros capital said, the impact on the Naira will be largely reflected across segments of the foreign exchange market. Thus, we expect the Naira to appreciate further against the dollar in the week, while remaining stable against the pound and euro.”

davodyguy:
Some people have no thinking and deductive brains at all.

The news says

The naira falls yesterday to N367 against the Dollar on the parallel market from N376 it opened for trading as the Central Bank of Nigeria (CBN) Monetary Policy Meeting commences today (Tuesday).

Is this a fall or appreciation?

Na wa oo. People can't even differential again

It started at N376
then fell to N367

is that not gain?

These sort of useless online papers have their target audience - the flat heads from the potopoto republic - because they know they can't think.

Zon!

..

Is this appreciation or depreciation cos I'm not understanding

Just because there is news that Buhari will soon return.

OP correct your Topic... "Naira Appreciates"

ThatCEO:
Keep calm my peepo, we still have $30B external reserve to pump in. I guarantee it will be $1 to #200 after we empty our reserve, which is a nobel acheivement if you ask me.

They are busy depleting our foriegn reserve yet naira keeps plummeting!

Again

Apc una do well oooo

What kind of reportage is this? From this reportage, it's very difficult to comprehend if naira really appreciated or depreciated.

What does Aboki fx has to say about this? .... https://abokifx.com/