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Nairaland Forum / Nairaland / General / Business / Naira Declines To 370 As Forex Liquidity Drops (7659 Views)
Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets / President Tinubu Orders CBN To Improve Forex Liquidity / Dollar Sells For N445 As Forex Scarcity Persists (2) (3) (4)
Naira Declines To 370 As Forex Liquidity Drops by Truth234(m): 5:54am On Aug 28, 2017 |
The surge in foreign exchange demands have started weighing on the Naira value. The Nigerian Naira plunged N3 to N370 against the United States dollar on Friday as demand for the US dollar unexpectedly jumped. Bureau De Change Operators across the country have said the apex bank needs to converge the exchange rate to stabillise the Naira. On investors’ window, the Naira traded at N366.79 to a US dollar and quoted at 306 on the official market window. The CBN continued to intervene in the forex market, even as the US dollar liquidity swelled with rising investors’ interest in local assets. However, the overnight lending rate declined to 12 percent on Friday following a 100 percent spike on Wednesday due to a liquidity squeeze as lenders scramble to pay for forex and treasury bills purchased from the central bank. Also, money market rates improved on Thursday after the Federal Government paid N224.54 billion ($715.10m) in budget allocations to the three tiers of government, boosting liquidity, Reuters reported. Another N95.7 billion was repaid in matured treasury bills to boost liquidity, according to traders. Subsequently, the CBN sold around N26.90 billion at an open market treasury auction on Friday to mop up Naira liquidity. Traders said the money market remained liquid despite the auction. http://investorsking.com/naira-declines-370-forex-liquidity-drops/ |
Re: Naira Declines To 370 As Forex Liquidity Drops by OmoOshodi(m): 7:42am On Aug 28, 2017 |
Expect it to reach 500 in weeks to come.... Baba is back what else do you expect. Spiritual: A prayer point Lord any Body Language in my life that always made things go from bad to baddest.. Cancel by fire........ Oya pray pray!!!! 42 Likes 2 Shares |
Re: Naira Declines To 370 As Forex Liquidity Drops by Franco93: 7:42am On Aug 28, 2017 |
Chai! So it's true. The return of Buhari is directly proportional to the fall of naira. 24 Likes |
Re: Naira Declines To 370 As Forex Liquidity Drops by rhektor(m): 7:42am On Aug 28, 2017 |
Bubu is back naira is dropping 14 Likes |
Re: Naira Declines To 370 As Forex Liquidity Drops by aku626(m): 7:42am On Aug 28, 2017 |
Yeah you guessed it, he is back. 18 Likes 1 Share |
Re: Naira Declines To 370 As Forex Liquidity Drops by osumak2: 7:42am On Aug 28, 2017 |
Re: Naira Declines To 370 As Forex Liquidity Drops by philanthropist1(m): 7:42am On Aug 28, 2017 |
I don't think Ayam surprise |
Re: Naira Declines To 370 As Forex Liquidity Drops by Nobody: 7:42am On Aug 28, 2017 |
OmoOshodi:You need help lol |
Re: Naira Declines To 370 As Forex Liquidity Drops by Awoo88: 7:42am On Aug 28, 2017 |
So na true say buhari don come back 16 Likes |
Re: Naira Declines To 370 As Forex Liquidity Drops by veekid(m): 7:43am On Aug 28, 2017 |
Wor do you expect? Shey Buhari never come baq? 12 Likes |
Re: Naira Declines To 370 As Forex Liquidity Drops by Ochuksbaba(m): 7:43am On Aug 28, 2017 |
buhari haff come again 11 Likes 1 Share |
Re: Naira Declines To 370 As Forex Liquidity Drops by Nobody: 7:43am On Aug 28, 2017 |
I would have delayed that payment ooooooo. Chai!!!! |
Re: Naira Declines To 370 As Forex Liquidity Drops by Ogashub(m): 7:43am On Aug 28, 2017 |
Buhari is back as expected things will start going from bad to worst 8 Likes |
Re: Naira Declines To 370 As Forex Liquidity Drops by Sirambassador(m): 7:43am On Aug 28, 2017 |
Space booked |
Re: Naira Declines To 370 As Forex Liquidity Drops by Lordave: 7:44am On Aug 28, 2017 |
Buhari 8 Likes
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Re: Naira Declines To 370 As Forex Liquidity Drops by burkingx(f): 7:44am On Aug 28, 2017 |
1 Like
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Re: Naira Declines To 370 As Forex Liquidity Drops by burkingx(f): 7:44am On Aug 28, 2017 |
1 Like |
Re: Naira Declines To 370 As Forex Liquidity Drops by jarkbauer: 7:45am On Aug 28, 2017 |
This is hate speech against the Naira. 1 Like |
Re: Naira Declines To 370 As Forex Liquidity Drops by mcmaurice20(m): 7:45am On Aug 28, 2017 |
Bubu and bad luck. I know it will happen. This man should just go back to London. Please the rat should intensify also rock destruction 6 Likes |
Re: Naira Declines To 370 As Forex Liquidity Drops by Nobody: 7:45am On Aug 28, 2017 |
Eleribu is back na 2 Likes |
Re: Naira Declines To 370 As Forex Liquidity Drops by 151487made(m): 7:46am On Aug 28, 2017 |
That man is back abi? |
Re: Naira Declines To 370 As Forex Liquidity Drops by burkingx(f): 7:46am On Aug 28, 2017 |
Lordave:
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Re: Naira Declines To 370 As Forex Liquidity Drops by Atk1nson(m): 7:46am On Aug 28, 2017 |
When is baba going back to London? 1 Like |
Re: Naira Declines To 370 As Forex Liquidity Drops by burkingx(f): 7:47am On Aug 28, 2017 |
mcmaurice20:
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Re: Naira Declines To 370 As Forex Liquidity Drops by TVTKOKO(m): 7:48am On Aug 28, 2017 |
BABA BUHARI IS BACK!!! � � � � � 3 Likes |
Re: Naira Declines To 370 As Forex Liquidity Drops by bnanzip(m): 7:49am On Aug 28, 2017 |
I will leave this $500 and see how to exchange it when it gets to 500 naira |
Re: Naira Declines To 370 As Forex Liquidity Drops by Abumtestimony1: 7:50am On Aug 28, 2017 |
I don't know why this should be news. Ayamnotsurprise. The head of the zoo is back. 5 Likes |
Re: Naira Declines To 370 As Forex Liquidity Drops by iykepromotions: 7:50am On Aug 28, 2017 |
well I keep on advicing people that this is the right time to invest in an online business that pays in Dollas or other foreign currencies. The Naira is continously loosing weight. this is a free thread on how to make money with EXPIRED domain names; www.Nairaland.Com/3430037/what-make-money-online |
Re: Naira Declines To 370 As Forex Liquidity Drops by JoshMedia: 7:52am On Aug 28, 2017 |
Funny 2 Likes |
Re: Naira Declines To 370 As Forex Liquidity Drops by Nobody: 7:52am On Aug 28, 2017 |
Basic issue.....we need more For-ex.....which can only come from being a manufacturing society. Selling oil,.palm oil,cocoa,groundnuts, nickel, etc will not save us. |
Re: Naira Declines To 370 As Forex Liquidity Drops by TerrorSquad147: 7:56am On Aug 28, 2017 |
BUbu is back |
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