The Nigerian naira appreciated to 435 per dollar on Monday, as the Central Bank of Nigeria (CBN) pumped a total of $180 million into the foreign exchange market.
Vanguard reports that the parallel market exchange rate, which declined to N445 per dollar last week, further dropped to N435 per dollar at the close of business, yesterday, translating to 3.4 per cent appreciation of the naira.
The naira appreciation is being driven by decline in demand for dollars occasioned by increase dollar supply by the Central Bank of Nigeria (CBN) .

Source; http://www.legendvibes.com.ng/2017/03/naira-appreciates-to-n435-as-cbn.html?m=1

Itaf tayed wey I sidon for this FTC throne oooo!!

I just hope this is not an 'artificial' remedy but if it is, I hope it would not boomerang.

Not impressed until they return it to 250 they met it.

Following....

terrorist Buhari

Fair

Injecting dollars into the system is just a TEMPORARY measure.

That awkward moment when you're reading this comment to find an awkward moment but there isn't any, and still you're reading this comment and you're starting to realise it says nothing important and you just wasted a couple of seconds of your life but you're still reading and you don't even know why. That's awkward... You should give me a like for wasting your time.

Not impressed

We are still patiently waiting for the promised ONE DOLLAR to ONE NAIRA. That means we still have N434 to reach our promised target abi? WE DEY WAIT OOO.

Still not good

See ordinary Bubu sha

Hmmm

Hmmmmmm... hope we are not going to drain our reserve just to get $1 - N1...?

At this rate we need a total of $5b or approx to get to $1 - N1..

Well kudos to buhari, this measure seems to be working gradually..

Pls,let us temporarily forget d fact that I am a wailer,IPOB yoot,flattie,and worse.
Pls,can som1 tell me what will happen when there's no more dollar to 'pump'?
Cos common sense says we'll b back to square one.
I need response from preferably seasoned economists or ppl in allied professions not an online hoodlum probably camped by Aregbe in 1 mud house in Osogbo,smoking d famous Osogbo weed non stop or d ones in one warehouse wt poor ventilation in Utako?

Ok

And this is good news because

If injecting money is the solution, then FG should channel all the money they've recovered from looters into it.

Well, it is good....but still....we need a more stable source of forex

And you can only do that by being a producing economy.

Let's start by taking a loan to improve power and transport....and we will go from there.

False information i guess....
It's 445 Not 435 please...

PROPHETmichael:
If injecting money is the solution, then FG should channel all the money they've recovered from looters into it.

Looted cash is not necessarily enough....plus most of it is still being recovered....and some of the loot has been converted to things like landed properties.

Then some of the loot is stowed abroad...which means it can take time to recover. (We just finished recovering Abacha's loot last year).

Then what happens when we run out of looted money? IE....the sustainablility question.

pat077:
by now, it shld have drop to below 400 naira.

the law of diminishing returns is affecting the policy. it has gotten to the point wen the naira is satisfied with were d policy has taken it. and d more currency is been pumped in utility neither increases or increases slightly.
any major increase will be due to a new factor such as mass earning in FX.

This is good. However, it is not a longterm solution. We need to boost the naira through increased local production & ensuring a more favourable import-export balance of trade.
God bless Nigeria

Dollar Or No Dollar I Earn, The Sweetness Of Being Self Employed

Anything above the official rate is still high but we appreciate the progress and determination exhibited by the apex bank.

ESDKING:
Not impressed until they return it to 250 they met it.

Which you people love to pretend happened by magic...when it was like that because we had high oil prcies.

And even that N250 used to be N114 once upon a time.....

Better ask your government to make our economy more productive....not make it so that you can go back to eating imported stuff....

Where are the wailers?
Since buhari came back, the dollar is stil falling.