Naira Appreciates As Demand For Dollar Gets Low - Business

Naira Appreciates As Demand For Dollar Gets Low - Business - Nairaland

Nairaland Forum › Nairaland General › Business › Naira Appreciates As Demand For Dollar Gets Low (37634 Views)

Naira Appreciates As Demand For Dollar Gets Low by sharpden(op): 5:24am On Nov 10, 2016

THE low demand for dollar at the parallel market on Wednesday forced naira to appreciate further against dollar, the News Agency of Nigeria reports.

NAN reports that the Nigerian currency gained N5 in Lagos to exchange at N460 to a dollar from N465 recorded on Tuesday.

Also, the Pound Sterling and Euro closed at N560 and N500 respectively.

At the Bureau De Change window, the dollar was sold at N385, being the Central Bank of Nigeria controlled rate.

Also, the Pound Sterling and Euro traded at N560 and N503 respectively.

However, the naira weakened against the dollar at the interbank market, losing N2.49 to close at N307.26 against N305.27 recorded on Tuesday.

Traders at the market said that the demand for the green back was low due to the political situation in the US.

Harrison Owoh, a BDC operator, said that stakeholders in the market were painstakingly watching the political situation in the US and its effect on the country’s economy.

Owoh said that in the coming days, the demand for the dollar was likely to remain low until the successful transition from a Democratic to a Republican Government in US.

http://www.socialtimesng.com/2016/11/naira-appreciates-as-demand-for-dollar-gets-low/

1 Like

Re: Naira Appreciates As Demand For Dollar Gets Low by Nobody: 5:29am On Nov 10, 2016

Make una dey dia dey deceive unaself

34 Likes 4 Shares

Re: Naira Appreciates As Demand For Dollar Gets Low by Olasco93: 5:43am On Nov 10, 2016

It's well.

Re: Naira Appreciates As Demand For Dollar Gets Low by eezeribe(m): 5:49am On Nov 10, 2016

The Naira should gain more than N300 and go back to at least N165. That's when I will Appreciate the Appreciation of the Naira.
Not 465 to 460.

Good riddance to bad rubbish

113 Likes 6 Shares

Re: Naira Appreciates As Demand For Dollar Gets Low by FreeWorld23: 6:03am On Nov 10, 2016

Mtcheew

Re: Naira Appreciates As Demand For Dollar Gets Low by dgr8truth(m): 6:57am On Nov 10, 2016

Re: Naira Appreciates As Demand For Dollar Gets Low by Benjom(m): 7:12am On Nov 10, 2016

Now that Trump has won, our dear Naira will start appreciating...

4 Likes 2 Shares

Re: Naira Appreciates As Demand For Dollar Gets Low by Blinddock: 8:51am On Nov 10, 2016

When I saw the news I was thinking like N50 to N100, what is N5?
This country will not kill me.

26 Likes 1 Share

Re: Naira Appreciates As Demand For Dollar Gets Low by flyca: 8:51am On Nov 10, 2016*

Have we started exporting anything yet?

Nigeria should stop hoping on the success of others for its own success. This is annoying!

6 Likes

Re: Naira Appreciates As Demand For Dollar Gets Low by hakeem4(m): 8:51am On Nov 10, 2016

Okay

Re: Naira Appreciates As Demand For Dollar Gets Low by Clone2020(m): 8:52am On Nov 10, 2016*

Send money from the US to Nigeria at a juicy rate of N400/N

Deposit into my US Bank account and get credited into your Nigerian account in 1 minute.

Contact in signature.

Re: Naira Appreciates As Demand For Dollar Gets Low by Nobody: 8:52am On Nov 10, 2016

Wash in teknos voice

Re: Naira Appreciates As Demand For Dollar Gets Low by BjDreamchaser(m): 8:52am On Nov 10, 2016

God bless Pmb

God bless Nigeria.

Ipob terrorists can go and die!

5 Likes

Re: Naira Appreciates As Demand For Dollar Gets Low by Nobody: 8:52am On Nov 10, 2016

Your naira will appreciate at a difference of N5 and whenever it wanna depreciate it usually does at a difference of N65plus.
If a gallon of water with 2000 litres holding capacity is leaking by 25 litres every day and is being refilled with 1 litre every two months.
You can guess what will happen to the gallon of water in the long run.
Enough said

25 Likes 1 Share

Re: Naira Appreciates As Demand For Dollar Gets Low by MrEverest(m): 8:52am On Nov 10, 2016

Ok, We are watching the trend

Re: Naira Appreciates As Demand For Dollar Gets Low by Nixiepie(f): 8:52am On Nov 10, 2016

Mtcheeeeeew undecided

maybe we should start dancing na

2 Likes

Re: Naira Appreciates As Demand For Dollar Gets Low by veekid(m): 8:53am On Nov 10, 2016

okay this is what BUHARI wants

Re: Naira Appreciates As Demand For Dollar Gets Low by Funjosh(m): 8:53am On Nov 10, 2016

This is a very good news cool

1 Like

Re: Naira Appreciates As Demand For Dollar Gets Low by KingsleyCEO: 8:53am On Nov 10, 2016

Keep deceiving yourself!

Re: Naira Appreciates As Demand For Dollar Gets Low by Costello559(m): 8:54am On Nov 10, 2016

This is just beautiful nonsense... huh

Re: Naira Appreciates As Demand For Dollar Gets Low by Naijapopular(f): 8:54am On Nov 10, 2016

but na wa oooo

Re: Naira Appreciates As Demand For Dollar Gets Low by Adesiji77: 8:54am On Nov 10, 2016

EastGold:
Make una dey dia dey deceive unaself

Re: Naira Appreciates As Demand For Dollar Gets Low by Kulas: 8:56am On Nov 10, 2016

Just N5 that made them to write this trash!.Ndi ara!.Shame to Nigeria economy

2 Likes 1 Share

Re: Naira Appreciates As Demand For Dollar Gets Low by wakes: 8:57am On Nov 10, 2016

ok na

Re: Naira Appreciates As Demand For Dollar Gets Low by musa7m(m): 8:57am On Nov 10, 2016

#5 wetin e go buy for me?

Re: Naira Appreciates As Demand For Dollar Gets Low by MishdaFish: 8:57am On Nov 10, 2016

http://www.dailytrust.com.ng/news/business/forex-crisis-dss-raids-bdc-operators-forces-dollar-down-to-n400/170949.html This and not low demand could be the reason.

1 Like

Re: Naira Appreciates As Demand For Dollar Gets Low by SuperBlack: 8:57am On Nov 10, 2016

Ok. Trump don win and Nigerian currency will be changed to Dollar.

Re: Naira Appreciates As Demand For Dollar Gets Low by ephi123(f): 8:58am On Nov 10, 2016

Funjosh:
This is a very good news

N5 gain is a VERY GOOD news. Are you kidding?
We keep settling for less in this country, imagine someone saying a N5 gain is a very good news, we truly have a looong way to go

7 Likes

Re: Naira Appreciates As Demand For Dollar Gets Low by Nellybank(m): 8:58am On Nov 10, 2016

Still praying and hopin to touch dollar one day

Re: Naira Appreciates As Demand For Dollar Gets Low by sylvar02(m): 8:58am On Nov 10, 2016

where's the news now?

when is 1 dollar gon equal 1 Naira?

Anyways

[size=20pt]E kú rècéssìon èní ooo [/size]

2 Likes 1 Share

Re: Naira Appreciates As Demand For Dollar Gets Low by Stalwert: 8:58am On Nov 10, 2016

Re: Naira Appreciates As Demand For Dollar Gets Low by Nobody: 8:58am On Nov 10, 2016

It can only be significant if it appreciates by at least #100,this one that It will appreciate with #5 and depreciate by #50 ,of what use is that? Mteeeew angry

1 2 3 Reply

Naira Watch: Naira Appreciates To N420/$ • Naira Appreciates Across Forex Market • Naira Appreciates As Manufacturers Lament Forex Scarcity • 2 • 3 • 4

Oando Kano Selling Fuel In Polythene Bags • President Buhari Scraps SURE-P - ThisDay • GTB Banking System Down All Day, Customers Suffer