Naira Climbs To N360.55/$ As CBN Injects $210 Million - Business - Nairaland
Nairaland Forum / Nairaland / General / Business / Naira Climbs To N360.55/$ As CBN Injects $210 Million (10453 Views)
Naira Crashes To 1,030/$ As Speculators React / CBN Injects Fresh $210m In Forex Market (2) (3) (4)
| Naira Climbs To N360.55/$ As CBN Injects $210 Million by Onyemadonald(m): 2:57am On Apr 10, 2019 |
The naira yesterday appreciated to N360.55 per dollar in the Investors and Exporters (I&E) window even as the Central Bank of Nigeria (CBN) injected N210 million into the inter-bank foreign exchange market. Figures obtained from the CBN yesterday showed that authorized dealers in the wholesale segment of the market received $100 million, while the Small and Medium Enterprises (SMEs) segment and customers requiring foreign exchange for invisibles were allocated $55 million each. A statement by the apex bank’s spokesman, Mr. Isaac Okorafor reiterated the CBN’s commitment to continue to boost interbank foreign exchange market to ensure liquidity and stability in the market. Data from FMDQ showed that the indicative exchange rate for the I&E window dropped to N360.55 per dollar from N360.68 per dollar on Monday, translating to 13 kobo appreciation for the naira. The volume of dollars (turnover) traded yesterday dropped by 50 percent to $132.88 million from $88.79million sold on Monday. The naira, however, was stable at N358.7 in the parallel market. SOURCE: https://www.trendingaccounting.com/2019/04/naira-climbs-to-n36055-as-cbn-injects.html 1 Like 2 Shares
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| Re: Naira Climbs To N360.55/$ As CBN Injects $210 Million by Sweetcollins: 4:05am On Apr 10, 2019 |
Bubu is working Nigerians are watching... God bless my dear country Nigeria The labours of our heroes past shall never be in vain Happy midweek day my nairaland kings and queens 9 Likes 2 Shares |
| Re: Naira Climbs To N360.55/$ As CBN Injects $210 Million by meobizy(f): 4:05am On Apr 10, 2019 |
Lol, 13 Kobo. At all at all naim bad pass so I can’t complain. Oya, this is good news. Nairalanders, post celebratory gifs. 4 Likes |
| Re: Naira Climbs To N360.55/$ As CBN Injects $210 Million by hassinho707(m): 4:05am On Apr 10, 2019 |
Na waah o 1 Like |
| Re: Naira Climbs To N360.55/$ As CBN Injects $210 Million by Sirnuel: 4:07am On Apr 10, 2019 |
for how long will continue pumping money to stabilize the naira? Sooner or later we won't be able to keep up and everything will come crashing. Left with me, they should allow the naira float till it stabilizes on its own. only then will we know how serious our predicament is and start to think of a way out. All this short term fixes just won't cut it. something drastic needs to be done, and very fast too. . . . I don't know which is worse, these dumb thieves we call politicians or their ignorant and jobless supporters 56 Likes 6 Shares |
| Re: Naira Climbs To N360.55/$ As CBN Injects $210 Million by Jig5aw(f): 4:17am On Apr 10, 2019 |
Artificial control of forex is never a good thing in an nations economy. The Nigerian Government is just a circus show. Instead of enabling better production environment, for production to thrive in large economy like Nigeria and allow the market to determine the forex rates, they keep adding fertilizer to a dying plant. 38 Likes 2 Shares |
| Re: Naira Climbs To N360.55/$ As CBN Injects $210 Million by KendrickAyomide: 4:22am On Apr 10, 2019 |
Get it to 300 Asap |
| Re: Naira Climbs To N360.55/$ As CBN Injects $210 Million by sonature1: 4:22am On Apr 10, 2019 |
Who noticed that all the Bubu's online minions are no longer active since after the election? Apparently, they were paid to engage Nigerians online. Guess what, it worked! Now, they've been paid off. 22 Likes |
| Re: Naira Climbs To N360.55/$ As CBN Injects $210 Million by kelvinnaira: 4:28am On Apr 10, 2019 |
Everytime, CBN pumping... I just dey laff.. E go over them very soon.. They call 360 to a dollar gaining.. OK.. Am waiting till naira gains against the dollar @ $1 - N520 2 Likes |
| Re: Naira Climbs To N360.55/$ As CBN Injects $210 Million by Nobody: 4:40am On Apr 10, 2019 |
Na yahoo boys this news pay jhoor..... make e come down to 150 or 200 per $ then we will know d FG is working 1 Like |
| Re: Naira Climbs To N360.55/$ As CBN Injects $210 Million by tiredoflife(m): 4:46am On Apr 10, 2019 |
Sirnuel: If what you propose is done We may see 2000naira to a $1 We produce nothing We consume consume and consume We are an economy on autopilot It will bring hyper inflation I had one on the wages of people 13 Likes 1 Share |
| Re: Naira Climbs To N360.55/$ As CBN Injects $210 Million by cnwamo(m): 4:48am On Apr 10, 2019 |
Where is the gain? 1 Like |
| Re: Naira Climbs To N360.55/$ As CBN Injects $210 Million by J4JUVENTUS(m): 4:51am On Apr 10, 2019 |
They keep injecting...hmmmm |
| Re: Naira Climbs To N360.55/$ As CBN Injects $210 Million by Dino98: 4:51am On Apr 10, 2019 |
Sirnuel: That's what they are using most of our money for....then APC supporters will now be saying Buhari is working....one day it will crash and we will know the true value of Naira....the true value should be like $1=#2000  they are just pumping money to deceive us, but for how long?? Our economy is not even growing, our external reserve is still low, our debts increasing, so how long 13 Likes |
| Re: Naira Climbs To N360.55/$ As CBN Injects $210 Million by Nobody: 5:19am On Apr 10, 2019 |
sonature1:will be back for yaya bellos election 3 Likes |
| Re: Naira Climbs To N360.55/$ As CBN Injects $210 Million by GavelSlam: 5:20am On Apr 10, 2019 |
Dino98: What country abandons her currency without intervention ? Did the injection of foreign currency by the CBN begin under this administration or well before you were born? Since this administration came in, we've had a stable currency which hardly fluctuates leading to better planning by enterprise. We've had a marked improvement in infrastructure from roads to rail to electricity. The loans have powered a chunk of our infrastructural growth yet at the same time our external reserves have climbed steadily since 2015. What exactly are you angry about? What do you produce that makes you entitled to a stronger currency? You think it's just by ranting up and down like a spoilt kid carrying the toga of entitlement? 15 Likes 4 Shares |
| Re: Naira Climbs To N360.55/$ As CBN Injects $210 Million by Nobody: 5:23am On Apr 10, 2019 |
During election i converted my savings to dollars o. At 363. Abeg cbn mk this thing rise |
| Re: Naira Climbs To N360.55/$ As CBN Injects $210 Million by Acedave1(m): 5:30am On Apr 10, 2019 |
Na dat saudi crown prince go buy naija atlas |
| Re: Naira Climbs To N360.55/$ As CBN Injects $210 Million by minasota(f): 5:33am On Apr 10, 2019 |
Acedave1:Lol |
| Re: Naira Climbs To N360.55/$ As CBN Injects $210 Million by Vince77(m): 5:35am On Apr 10, 2019 |
Depreciates in Naira. Appreciates in Kobo. Nice one. 1 Like |
| Re: Naira Climbs To N360.55/$ As CBN Injects $210 Million by ogbs2020love: 5:36am On Apr 10, 2019 |
Nigeria |
| Re: Naira Climbs To N360.55/$ As CBN Injects $210 Million by Notatribalist(m): 5:47am On Apr 10, 2019 |
Sweetcollins:shame non dey catch you?360 to 1$ is what you're celebrating. 7 Likes |
| Re: Naira Climbs To N360.55/$ As CBN Injects $210 Million by aku626(m): 5:59am On Apr 10, 2019 |
Sirnuel: Good questions: having in mind that our debt profile is still climbing without any realistic method of settlement 2 Likes |
| Re: Naira Climbs To N360.55/$ As CBN Injects $210 Million by Maket: 6:08am On Apr 10, 2019 |
Some had sealed their soul never to support the government hence everything they do is bad in their sight. This intervention is for a short term relief while they are working on long term solution. Imaging there is no such intervention, even Gej and Obj can't afford to feed their family. 2 Likes 1 Share |
| Re: Naira Climbs To N360.55/$ As CBN Injects $210 Million by dayleke: 6:08am On Apr 10, 2019 |
Las Las we go survive na... |
| Re: Naira Climbs To N360.55/$ As CBN Injects $210 Million by seguno2: 6:09am On Apr 10, 2019 |
Sweetcollins: Working to shut us up with dollars as he steals more and travels around How is being import dependent a good thing? 2 Likes |
| Re: Naira Climbs To N360.55/$ As CBN Injects $210 Million by seguno2: 6:14am On Apr 10, 2019 |
tiredoflife: We don’t have land for farming and food to eat? What other basic things do we need? Did China and India become economic giants by saying “we consume, consume and consume” with artificially cheap dollars for importing what other hard working people are sweating to produce 4 Likes |
| Re: Naira Climbs To N360.55/$ As CBN Injects $210 Million by seguno2: 6:15am On Apr 10, 2019 |
Maket: Who fed you this rubbish 6 Likes |
| Re: Naira Climbs To N360.55/$ As CBN Injects $210 Million by Seconsol92(m): 6:17am On Apr 10, 2019 |
waiting till $1=#1 check my signature for cheap data deals |
| Re: Naira Climbs To N360.55/$ As CBN Injects $210 Million by lonelydora: 6:18am On Apr 10, 2019 |
This every time injection is not going to help Nigeria. It's like someone having malaria and you are taking paracetamol to calm your nerves. We are not serious as a country 2 Likes |
| Re: Naira Climbs To N360.55/$ As CBN Injects $210 Million by biookuta(m): 6:18am On Apr 10, 2019 |
We shall also be great by God's grace ote author=Onyemadonald post=77411660]The naira yesterday appreciated to N360.55 per dollar in the Investors and Exporters (I&E) window even as the Central Bank of Nigeria (CBN) injected N210 million into the inter-bank foreign exchange market. Figures obtained from the CBN yesterday showed that authorized dealers in the wholesale segment of the market received $100 million, while the Small and Medium Enterprises (SMEs) segment and customers requiring foreign exchange for invisibles were allocated $55 million each. A statement by the apex bank’s spokesman, Mr. Isaac Okorafor reiterated the CBN’s commitment to continue to boost interbank foreign exchange market to ensure liquidity and stability in the market. Data from FMDQ showed that the indicative exchange rate for the I&E window dropped to N360.55 per dollar from N360.68 per dollar on Monday, translating to 13 kobo appreciation for the naira. The volume of dollars (turnover) traded yesterday dropped by 50 percent to $132.88 million from $88.79million sold on Monday. The naira, however, was stable at N358.7 in the parallel market. SOURCE: https://www.trendingaccounting.com/2019/04/naira-climbs-to-n36055-as-cbn-injects.html[/quote] |
| Re: Naira Climbs To N360.55/$ As CBN Injects $210 Million by ostechno(m): 6:20am On Apr 10, 2019 |
Mmmm
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