The Naira appreciated slightly on Monday after trading at N369 for two weeks.

The local currency gained N3 from N369 it traded last week to close at N366 per U.S. dollar on Monday.

This was after the Central Bank of Nigeria intervened in the foreign exchange market.

The apex bank has been injecting between $250 million and $300 million into the various segments of the foreign exchange market to help support the Naira and boost business activities.

On Monday, the CBN sold another $195 million into the forex market.

Breaking down the disbursement, a total of $100 million was injected into the interbank foreign exchange segment, while the small and medium enterprises and invisible segments were appropriated $50 million and $45 million respectively.

The central bank had earlier threatened to sanction any Deposit Money Bank in breach of its March 3, 2017, directive, which mandates them to open teller points for retail foreign exchange transactions and to have electronic display boards in their branches showing rates of all their currencies.

The Nigerian crude oil, Brent crude, rose to a 26-month high on Monday following a threat by the Turkish government to block Iraqi Kurdistan’s crude shipments through its territory for going through with a controversial referendum.

Brent gained 0.46 percent to $58.70 a barrel, up $8 from $50.73 a barrel recorded a month ago when Hurricanes hit US producers.

The U.S. West Texas Intermediate rose by 0.13 percent this week to $52.31 at 11:11 pm Nigerian time.

http://investorsking.com/naira-gains-marginally-closes-n366/

Quite interesting...... wonder why the banks are charging the black market rates for debit cards.

[sup][/sup]

Still waiting for when #1 will equal $1 so i can buy iPhone X for #1000

.

Naira

I don't bleme APC Government.... We are the cause of our problems.... See margins!

Waiting for it to reach $1= #1000

Good, May God help us. .....We need God intervention.

And they expect us to happy or what, is the 1 dollar to 1 naira may president promise us

Gain??

baski92:
And they expect us to happy or what, is the 1 dollar to 1 naira may president promise us

Your president promised you?

Liars everywhere you go.

donkenny:
Waiting for it to reach $1= #1000

bros wetin happen naw

Naira like irregular menstrual cycle

We are getting there

I wish we could trade the Naira on my forex broker

same old same old

everyday news

SillyMods:

Your president promised you?

Liars everywhere you go.

the man realy trick us, not to even talk of the 10,000 every month we were promise before election

One day, one story.

soon all will be well cyto currency s d ans d earlier d beta we understand dat digital currency s d key

Without a manufacturing and knowledge based economy, this means nothing. No light sef, even the governor of lagos is buying 120 generator sets for police. Is that a serious country to you, or does this sound like a country that can take advantage of such a situation. I'd argue it is in america's interest that the dollar falls, to encourage more trade on their side especially against Nigeria.

.

N

Gradually

Check my signature to order your football jerseys and get FREE CUSTOMIZATION, YES you heard me right FREE CUSTOMIZATION

no

Okay.

Sheggun1:
bros wetin happen naw

iykepromotions:
Quite interesting...... wonder why the banks are charging the black market rates for debit cards.

..I support the idea for now,it's just to ease off demand on the cards (diaspora) and that's why the rate has been steady for a while but hopefully they will reduce their rate once they have surplus in reserve (foreign reserve) and that will overturn the black market rate..Let's just hope the foreign reserve continues to grow.

A good development I must say.