₦airaland Forum

By BusinessNews Staff

The Central Bank of Nigeria has closed the interbank foreign exchange market till January 4, 2016.


CBN Gov.

The closure, which is the norm in the banking sector, was expected to have been done not later than Monday, considering the position of the naira at the parallel market, The Cable reported.

The naira had fallen to a record low of 280 to the dollar at the parallel market after beating what was initially regarded as a 42-year-low.

The local currency, however, appreciated to 270 on Friday, after the sale of over $20m by the CBN to the Bureau de Change operators.

The CBN is expected to pump more forex into the parallel market while the interbank FX market remains shut throughout the festive period, but it remains unclear if this will be done.

With the interbank market now closed for the next 14 days, dollar scarcity may rock the economy and the naira may further depreciate below N280.

The naira opened on the parallel market on Monday at N265 to the greenback.

Source:http://www.nairausd.com/2015/12/cbn-closes-interbank-forex-market-till.html?m=1

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Downfall of nairA makes me happy

ibkgab001:
Downfall of nairA makes me happy

Why

Ones my brother send me 200 usd that will last me for a month successfully

ibkgab001:
Ones my brother send me 200 usd that will last me for a month successfully

Hmmmm

Marketers Confirm Subsidy Payment, Explain Petrol Scarcity

http://www.nairausd.com/?m=1

What's us the effect of this policy in 2016

ibkgab001:
Ones my brother send me 200 usd that will last me for a month successfully

typical attitude of a lazy minds. your mates make $2000-5000 here in Nigeria without expecting any relatives for peanuts.

2sex:
typical attitude of a lazy minds. your mates make $2000-5000 here in Nigeria without expecting any relatives for peanuts.

Hmmmmmm

ifyan:
Hmmmmmm

he may not realise the damage that mindset can do to him until something befall him. It practically paralyse you. I grew up in a home where majority of my relatives are based outside the country, including my elder sister who sent us money. But I had always been someone who don't attach importance to money given to me except it's my sweat.


When my mother died and things became tough, my elder brother struggled to adjust to life due to high dependency and trust me, it's not the best.

I have since done greater things that marvel him.

The Nigeria we have today has made even going abroad look obsolete and nothing special as compared to the days when people were almost worshipping those diasporians, which one of my aunt took advantage of to mess those around her up.

But today, she is nothing much different from Nigerians that are home. In fact, some Nigerians do better here than those over there if you know your way.

2sex:
he may not realise the damage that mindset can do to him until something befall him. It practically paralyse you. I grew up in a home where majority of my relatives are based outside the country, including my elder sister who sent us money. But I had always been someone who don't attach importance to money given to me except it's my sweat.
When my mother died and things became tough, my elder brother struggled to adjust to life due to high dependency and trust me, it's not the best.
I have since done greater things that marvel him.
The Nigeria we have today has made even going abroad look obsolete and nothing special as compared to the days when people were almost worshipping those diasporians, which one of my aunt took advantage of to mess those around her up.
But today, she is nothing much different from Nigerians that are home. In fact, some Nigerians do better here than those over there if you know your way.

I understand