The Nigerian currency bounced back at the official market against the United States dollars despite a significant increase in the demand for foreign currencies.

Data obtained from FMDQ securities showed that the Investors and Exporters (I&E) segment of the foreign exchange (forex) market on Tuesday, September 21 closed at N413.28/$1.

This represents a 40 kobo or 0.10 per cent gain against the greenback yesterday when compared to the N413.68/$1 it closed on Monday.

During the trade, a turnover of $200.65 million was recorded at the session as against the $91.23 million achieved at the preceding day, indicating a surge of $109.42 million or 119.9 per cent.

The local currency was able to withstand the pressure because of the sufficient supply of FX to the market by the Central Bank of Nigeria (CBN) which is making efforts to stabilise the space.

Meanwhile, the Central Bank of Nigeria has revealed that in an effort to defend the Naira in April, the country’s external reserves depleted by 2.4 percent in April 2021.

CBN in its latest economic report for April, noted that the decline in inflow constrained foreign exchange market liquidity and exacerbated demand pressure hence the need for intervention in the forex market.

https://www.ripplesnigeria.com/naira-bounces-back-against-u-s-dollars-at-official-market/

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Omo, its true o, I just checked on google, pls it should remain like this for the next 2years or get lower please

Nice joke dollar is still 573 naira

Arda1000:
Nice joke dollar is still 573 naira

check google Oga.
3days ago I checked and it was 573, I checked today and it is 412

richmond500:
check google Oga.
3days ago I checked and it was 573, I checked today and it is 412

So if I give u 450k you would deliver $1000 ? U can keep the change for transport

Joke on you

Naira is 412.06 officially

Not yet $216 were he meet it and promised change

mrvitalis:

So if I give u 450k you would deliver $1000 ? U can keep the change for transport

u fit bring am na, make I use u start yahoo.

I noticed that every ipob member is an enemy to good news

richmond500:
Mynd44 pls let's appreciate the little progress too

Appreciate mediocrity like you appreciate his bread label as certificate

Do you know the impact his foolishness below cost the economy

This country likes to celebrate mediocrity and failure. B4 this maladministration, a dollar was going for 150/160. So there's absolutely nothing to celebrate.

Now they will say they were right about closing down AbokiFX. Such clueless mofos.

Truthissupreme:
Appreciate mediocrity like you appreciate his bread label as certificate

Do you know the impact his foolishness below cost the economy

Pls get out of my mention, i dont have time for people that glamourize bad news and are always ready to counter any good news.

mynd44 pls let's appreciate the little progress too.

richmond500:
Pls get out of my mention, i dont have time for people that glamourize bad news and are always ready to counter any good news.

mynd44 pls let's appreciate the little progress too.

There is nothing good about this administration, people now eat grass others eat kulikuli and gari to survive

Rianat Yusuf, according to the police, was sent on a errand to buy Kulikuli which the family intended to use to drink Gari (cassava flour) when she was killed by the prime suspect,

I am always happy when naira appreciates against the dollar and becomes stable.

How can you be buying and selling dollar and every minutes the rates keeps increasing, even if you are saving in dollars, you got to buy dollars, how will you feel anytime you carry your naira to buy dollar, the exchange rate has risen to almost 30%, that means, everytime you want dollar, you have to get more naira to buy dollars, that is just bad business.

As for as we are concerned, The official dollar to naira exchange rate as far as Nigeria is concerned is 413

BDCs and the banned Binance site especially on p2p should stop fixing price.

Infact it is cheaper to buy dollars for legit purposes at the commercial banks than with the street BDCs.

As far binance p2p, that one is pure fraud and greed

Truthissupreme:
There is nothing good about this administration

Administration?
Who is talking about administration?

We are talking about how naira aprreciates against dollar after falling to 573 few days ago.

We are talking about appreciating the little progress we have made.

But just like every other sadist, good news sabi pain ona

richmond500:
Pls get out of my mention, i dont have time for people that glamourize bad news and are always ready to counter any good news.

mynd44 pls let's appreciate the little progress too.

You truly celebrate mediocre. Counter the fact he presented and stop this show of shame. Talk of people that promised #1 to $1

richmond500:
u fit bring am na, make I use u start yahoo.

I noticed that every ipob member is an enemy to good news

That's truth they derived so much joy in bad news

thebosstrevor1:
The official dollar to naira exchange rate as far as Nigeria is concerned is 413

go to nearest bank and see if they will give you at that price without providing your travel documents..

Then go to BDC or any aboki to see if you can buy at that price..

[s]

richmond500:
Administration?
Who is talking about administration?

We are talking about how naira aprreciates against dollar after falling to 573 few days ago.

We are talking about appreciating the little progress we have made.

But just like every other sadist, good news sabi pain ona

[/s]This trash is not news

Inflation, multiple taxes, Fulani terrorists stopping people from farming have swallowed the supposed 2kobo gain you are masturbating

Truthissupreme:


Rianat Yusuf, according to the police, was sent on a errand to buy Kulikuli which the family intended to use to drink Gari (cassava flour) when she was killed by the prime suspect,

wetin concern Naira appreciating against dollar and that rubbish u posted there?

How much are u paid to do this?

How much is dollar in black market

richmond500:
wetin concern Naira appreciating against dollar and that rubbish u posted there?

How much are u paid to do this?

people can't eat na wetin concern them

You are the buhari zombie here

seankafor:
go to nearest bank and see if they will give you at that price without providing your travel documents..

Then go to BDC or any aboki to see if you can buy at that price..

That is why it is called pta and bta. Dollar is supposed to be gotten for legitimate purposes.

Btw, Is the street sellers not buying at 413 from the banks and selling for 563 on the street.

Who are we deceiving in this country.

Truthissupreme:
[s][/s]This trash is not news

Inflation, multiple taxes, Fulani terrorists stopping people from farming have swallowed the supposed 2kobo gain you are masturbating

Again, u will bring completely different scenario to try counter this good news.

When Naira reach 573, na ona no want us to hear word, now that it has appreciated, ona still deh find way to counter am.

How much did PDP pay u?

Truthissupreme:
people can't eat na wetin concern them

You are the buhari zombie here

because I like good news, I am now Buhari zombie?

Ipob piglets will never seize to amaze me.

Bitterness just too much for on a body

richmond500:
Again, u will bring completely different scenario to try counter this good news.

When Naira reach 573, na ona no want us to hear word, now that it has appreciated, ona still deh find way to counter am.

How much did PDP pay u?

Paid buhari agent.

Shame no dey catch you

Gas is 7500 now from 4000 this same year, how much the 2kobo change

If you were living on your own instead of your papa house you for know wetin concern masses

richmond500:
because I like good news, I am now Buhari zombie?

Ipob piglets will never seize to amaze me.

Bitterness just too much for on a body

Na everybody be Ipob when no support buhari abi?

But anyone supporting buhari is a zombie na

Six years gone na 2kobo una dey call good news for naira you met at 216

Evaloyal2J:
You truly celebrate mediocre. Counter the fact he presented and stop this show of shame. Talk of people that promised #1 to $1

Oga naira don appreciate, go and kill urself.

Whenever it depreciates I feel bad, when it appreciates I feel happy, that's what positive energy is.

Unlike Ipob piglets, when u hear bad news, u get happy.... When u hear good news, u become defensive.

richmond500:
Omo, its true o, I just checked on google, pls it should remain like this for the next 2years or get lower please

It has been like that since ages.

Google, xe.com and all remittance companies all use the cbn official exchange rate for business, how come aboki fx is using the unofficial exchange rate as a point of reference