₦airaland Forum

The Nigerian Naira on Friday, October 7, has remained
at N473/$1 in the black market as it was yesterday,
October 6.


This would leave Naira’s black market value unchanged
since it appreciated from N475 posted on Wednesday,
October 5.


Dollar to Naira
The local currency also maintained the N590 and N515
rate to the Pound Sterling and the Euro respectively.
According to currency traders, the recent come back of
the local currency can be attributed to the introduction
of Travelex, a licensed forex dealer.


Aminu Gwadabe, the president of the Association of
Bureau De Change Operators of Nigeria (ABCON), said
the Naira is expected to make more surprise recovery
from today as Travelex, a global foreign exchange
(forex) dealer, begins the sale of $15,000 weekly to each
of the 3,000 Bureaux De Change (BDC) operators.
He said that $45 million will flow into the financial
system with each of the BDCs getting $15,000. The
exercise, he said, would strengthen the Naira in both the
official and parallel markets.


Gwadabe also disclosed that about 1,500 BDCs would
access $15,000 each from the IMTO this weekend. This
would further give strength to the Naira at the parallel
market in the coming days.


Source=https://www.naij.com/999460-naira-sustains-growth-dollar.html?source=index_main

Issoikay.

Funjosh:
Issoikay.

By God grace things will be better soon.

Story. Wait till December when demands for virtually every goods will Soar! It's as if you guys have no idea what 160Million population mean.

iwatch:
Story. Wait till December when demands for virtually every goods will Soar! It's as if you guys have no idea what 160Million population mean.

By God grace things will be better before then.