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Nairaland Forum / Nairaland / General / Business / CBN Sells Over $300m To Banks As Naira Gains (23746 Views)
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CBN Sells Over $300m To Banks As Naira Gains by Paraman: 9:14am On Feb 27 |
The Central Bank of Nigeria has over $300m to Deposit Money Banks in the last two weeks amid desperate efforts to stabilise the naira-dollar exchange rate. https://punchng.com/cbn-sells-over-300m-to-banks-as-naira-gains/?utm_source=telegram&utm_medium=social 7 Likes
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Re: CBN Sells Over $300m To Banks As Naira Gains by Simonjef: 9:19am On Feb 27 |
There is hope for the naira 27 Likes 2 Shares |
Re: CBN Sells Over $300m To Banks As Naira Gains by Kunlevibess: 9:21am On Feb 27 |
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Re: CBN Sells Over $300m To Banks As Naira Gains by baconline(m): 9:34am On Feb 27 |
No hope except they take some drastic actions, 7 Likes 1 Share |
Re: CBN Sells Over $300m To Banks As Naira Gains by Iykopee(m): 9:42am On Feb 27 |
@ #1500 means naira is gaining value? 47 Likes 4 Shares |
Re: CBN Sells Over $300m To Banks As Naira Gains by matify83: 9:44am On Feb 27 |
Excellent move! However, concerted efforts must be brought to bear on the continuous appreciation of the naira because it is still undervalued at this rate. Our target is between 700 and 800 to the dollar. That's what Carson has always maintained. 32 Likes 3 Shares |
Re: CBN Sells Over $300m To Banks As Naira Gains by CodeTemplar: 9:48am On Feb 27 |
The govt is trying to hang it around N1500/$ mark. Selling slightly below and pushing for it to be resold at just above that is their strategy for now. We need some drastic import substitution and not these cosmetic shenanigans. 16 Likes 2 Shares |
Re: CBN Sells Over $300m To Banks As Naira Gains by Nbote(m): 10:13am On Feb 27 |
The govt thru the CBN is selling below the market value to drive price down. The question is for how long will they continue to sell below the market price? 30 Likes 3 Shares |
Re: CBN Sells Over $300m To Banks As Naira Gains by Nbote(m): 10:13am On Feb 27 |
CodeTemplar: Exactly.. This is just like applying paint to a crack on the wall 16 Likes 1 Share |
Re: CBN Sells Over $300m To Banks As Naira Gains by IamAtikulate: 10:21am On Feb 27 |
It's not working. Dollar is now #1,680+ this morning. Tinubu is destroying this country with incompetence 39 Likes 3 Shares |
Re: CBN Sells Over $300m To Banks As Naira Gains by reiddecuti: 10:31am On Feb 27 |
Fire Brigade approach! I don't know whether to say the economy is dying or is dead! And government seems not to care but will chunning out unrealistic policies — implementation of oransaya report when he created new ministries, having a total of 44 ministers; creation of unemployed youths benefits, when he can't simply pay 35k wage award he promised with his mouth. I wonder how people still believe in this government that have established themselves to fail and they're doing pretty good job at that. 17 Likes 1 Share |
Re: CBN Sells Over $300m To Banks As Naira Gains by datola: 10:31am On Feb 27 |
matify83: Anything more than that is not acceptable! 12 Likes |
Re: CBN Sells Over $300m To Banks As Naira Gains by blowjohn(m): 10:31am On Feb 27 |
dollar rate is below 500 naira and price of fuel is below 200 naira. That's what they shud be targeting to ease life. At least we know stable electricity cannot be achieved till Michael Faraday appears again. Any thing that cannot bring down dollar rate, and fuel price with increased food production is a waste of time. Things will only get worse. If u like dash nigerians 100k every month. The money go finish before 1 week. Even the debt people dey owe alone go swallow am. All these play acting ..... Well let's see 21 Likes 1 Share |
Re: CBN Sells Over $300m To Banks As Naira Gains by Obyangel: 10:32am On Feb 27 |
We can only hope for the best, Naira will still depreciate terribly in months to come. I saw this 2 years ago 2 Likes |
Re: CBN Sells Over $300m To Banks As Naira Gains by INTEGRITYA1(m): 10:32am On Feb 27 |
Gradually |
Re: CBN Sells Over $300m To Banks As Naira Gains by Goodlady(f): 10:32am On Feb 27 |
Wait am coming |
Re: CBN Sells Over $300m To Banks As Naira Gains by Anguldi(m): 10:32am On Feb 27 |
1 Like |
Re: CBN Sells Over $300m To Banks As Naira Gains by BigDawsNet: 10:32am On Feb 27 |
$1 to 300naira And tinubu will get my vote 8 Likes |
Re: CBN Sells Over $300m To Banks As Naira Gains by saasala(m): 10:33am On Feb 27 |
Short term solution. 2 Likes |
Re: CBN Sells Over $300m To Banks As Naira Gains by rattlesnake(m): 10:33am On Feb 27 |
Iykopee:yes it's gaining on nairaland 7 Likes 2 Shares |
Re: CBN Sells Over $300m To Banks As Naira Gains by ACRI: 10:33am On Feb 27 |
Take drastic actions!!!!! Politicians, Bank CEOs, Industry leaders round tripping currency should be dealt with decisively All this ones are ephemeral Go after the saboteurs and spare us these rhetoric and unnecessary explanations 2 banks executives arrested EFCC, DSS sorrounds government houses: 5 governors indicted in purchase of forex with federal allocation Dangote flees the country amidst renewed probe into dealings under Buhari regime.... Na wetin I wan dey read be the above 26 Likes 4 Shares |
Re: CBN Sells Over $300m To Banks As Naira Gains by IhateRetards: 10:33am On Feb 27 |
Abeg is it Binance or Finance that they blocked |
Re: CBN Sells Over $300m To Banks As Naira Gains by MajorOvakporaye(f): 10:33am On Feb 27 |
Scam!!! APC propaganda Tinubu is a useless failure!!! 10 Likes 2 Shares |
Re: CBN Sells Over $300m To Banks As Naira Gains by cjudy(m): 10:33am On Feb 27 |
Short term relieve. No future 2 Likes |
Re: CBN Sells Over $300m To Banks As Naira Gains by Mopolchi: 10:33am On Feb 27 |
Lies, Lies, Naira is not gaining anything. By the time, Cardoso and Thìefnubu is done with Nigerian economy, Obi must have learnt a lesson. 7 Likes 1 Share |
Re: CBN Sells Over $300m To Banks As Naira Gains by AntiChristian: 10:33am On Feb 27 |
May the gains be sustainable! May all those profiting from our weak policies at the detriment of the common man lose abundantly! We really need to minimize dollar usage in Nigeria! This is too much as $ is affecting Garri, Yam, Beans, tomatoes, oil, vegetables,....! 8 Likes |
Re: CBN Sells Over $300m To Banks As Naira Gains by Sccarrr: 10:34am On Feb 27 |
Iykopee:no, E dey decline, ode! We know you're sad about the news..your expectation namake e dey rise daily, it gives u orgasm Mopolchi: MajorOvakporaye:Mofo's spotted 7 Likes 1 Share |
Re: CBN Sells Over $300m To Banks As Naira Gains by bassdow: 10:34am On Feb 27 |
l |
Re: CBN Sells Over $300m To Banks As Naira Gains by bassdow: 10:34am On Feb 27 |
bassdow: |
Re: CBN Sells Over $300m To Banks As Naira Gains by 1x2x3: 10:35am On Feb 27 |
Lol with dollar hungry politicians on board, $200M is nothing for one politician to wipe out. They will mop the $$ up in a very short time and another shortage will begin. 3 Likes |
Re: CBN Sells Over $300m To Banks As Naira Gains by Britishpea: 10:35am On Feb 27 |
After back and forth, throughout Tinubu’s first 4 years tenure, naira/dollar will be pegged at 1200-1500/$. Nothing less. Prices of good and services will remain the same. But expect massive projects and institutional reforms. 47 Likes |
Re: CBN Sells Over $300m To Banks As Naira Gains by lexy2014: 10:36am On Feb 27 |
Simonjef: how is there hope? 1 Like |
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