The Nigerian Naira gained against the US dollar on Thursday after dollar scarcity forced it to trade lower on Wednesday.

The local currency improved N5 to close at N465 at the parallel market, from N470 it traded on Wednesday. While both the Pound Sterling and the Euro exchanged at N565 and N505 respectively.

At the interbank market, the Naira gained N1.78 from N306.78 it traded on Wednesday to close at N305 to a US dollar, while the Bureau De Change operators exchange at N385.

Experts have said the currency appreciated as Bureau De Change operators await the sale of dollars from Travelex, a CBN licenced international forex dealer.

“The Naira would appreciate further by the close of trading when BDCs would have all gotten their weekly Forex allocation from Travelex,” said Mr. Harrison Owoh, The Chief Executive Officer of H.J Trust.

The currency, which weakened on Wednesday following the dollar scarcity in the forex market, is expected to continue its recovery trajectory due to liquidity boost on the market.

Meanwhile, the Iraq has asked for an exemption from OPEC production cut similar to what Nigeria and Libya are likely to get, citing the on-going ISIS war in its country. This, among others, is the huddles likely to hinder the almost a decade success of OPEC institution.

A foreign exchange, research analyst at Investors King Ltd., Samed Olukoya said “Once OPEC members reach a consensus on production cut, the issue of liquidity should be addressed.”

Currently, the Brent crude is up 48 cents to trade at $50.47 a barrel.

http://investorsking.com/naira-gains-on-liquidity-boost/

We are getting there

The little Economics I studied informed me that value is created by scarcity. I also read that one of the qualities of good money is its relative scarcity.

When billions of naira,earmarked for certain projects,has a high percentage diverted into the pockets of corrupt people in power and the remaining given to non performing contractors,it weakens the naira.

There is great hope for Nigeria since the law is becoming more active and accountability in public offices is investigated.

Trash

That awkward moment when after rushing to book space, you
suddenly realize you don't have any meaningful thing to say.
Anyway let me use this opportunity to beg you guys for likes. I
know this is childish and that I have grown past this. I won't lie
that today is my birthday- just like others do. It's just that i have
this irresistible urge and would like to know that people still care
about other peoples feelings. May whatever you worship bless
and protect you and your family as you like this post. Thanks and
God bless you and your family.
Once more, don't say im distubing you. Please click like. Thanks
once again. Please I'm on my knees begging, it won't cost you
anything just to click on that like. Pulease.

interesting

N5

5 naira gain.. this govament will not kii me

this is good

MadCow1:
What is liquid naira?

Naira no gain anything na

Next news pls

The local currency improved N5 to close at N465 at the parallel market, from N470 it traded on Wednesday


Bros?

Okay

Which gain?
Until they return the exchange rate to $1 = 200 naira, no work done

the naira gained because of high dollar scarcity? lol... intereting

We need Solidity boost too

WalkerMichael:

That awkward moment when after rushing to book space, you
suddenly realize you don't have any meaningful thing to say.
Anyway let me use this opportunity to beg you guys for likes. I
know this is childish and that I have grown past this. I won't lie
that today is my birthday- just like others do. It's just that i have
this irresistible urge and would like to know that people still care
about other peoples feelings. May whatever you worship bless
and protect you and your family as you like this post. Thanks and
God bless you and your family.
Once more, don't say im distubing you. Please click like. Thanks
once again. Please I'm on my knees begging, it won't cost you
anything just to click on that like. Pulease.

See ya life But I don dash you one like sha.

Hmmm What A Gain

This can only get better!!

Gain or Cane

Illusion created by cbn.actual ground reality is different
Heading 1$=500 plus before end of nov

Absolute Balderdash

$1 = 468 naira at this time and someone is talking about gains. Again, absolute rubbish!!!

Waiting for when it will appreciate to N1 - $1 as promise.

lol

rubbish news. so Nigerians should rejoice that 1dollar is now 460 naira or what?

Abeg who knows how much Medical Visa to India cost? I have been invited for visa interview, let me know how much am coming to Lagos with. Please quote ehile replying. Thanks alot

All this lucozade boost that is not bring money to my pocket is just nonsense... I know i'll still celebrate this year by God's grace

God will only depend on u cos u are the unchangeable changer.