Again, CBN Intervenes In FX Market With $210m - Business - Nairaland
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| Again, CBN Intervenes In FX Market With $210m by Nkemakonam62: 4:28am On Jun 27, 2018 |
The Central Bank of Nigeria (CBN) has made available the sum of $210million, to meet customers’ requests in various segments of the foreign exchange (FX) market. The CBN, in its quest to meet demands in the various segments of the market offered $100 million to authorised dealers in the wholesale segment of the market, while the small and medium enterprises (SMEs) segment got boosted with the sum of $55 million. According to figures made available by the bank, customers requesting FX for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated the sum of $55 million. The CBN had last Thursday intervened to the tune of $210 million to cater for requests in the wholesale segment of the forex market. Meanwhile, the naira continued its stability as it exchanged at an average of N360/$1 in the BDC segment of the market yesterday http://www.akelicious.net/2018/06/again-cbn-intervenes-in-fx-market-with.html
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| Re: Again, CBN Intervenes In FX Market With $210m by Nobody: 7:35am On Jun 27, 2018 |
First to comment again!!!....  . I am in for it this morning. So what were you saying?? CNN did what Check my SIGNATURE |
| Re: Again, CBN Intervenes In FX Market With $210m by GREATESTPIANIST: 7:35am On Jun 27, 2018 |
Good morning..... when will 1 dollar be 1 naira? I believe Nigeria will be great !!! #everOptimistic# 1 Like |
| Re: Again, CBN Intervenes In FX Market With $210m by Navalsadiq(m): 7:35am On Jun 27, 2018 |
First to comment. |
| Re: Again, CBN Intervenes In FX Market With $210m by GREATESTPIANIST: 7:36am On Jun 27, 2018 |
zaragal:hmmmmm.... the hustle is real |
| Re: Again, CBN Intervenes In FX Market With $210m by Nobody: 7:36am On Jun 27, 2018 |
Navalsadiq: Wake up bro...you are 3rd |
| Re: Again, CBN Intervenes In FX Market With $210m by Folashade2016(f): 7:37am On Jun 27, 2018 |
Confirmed confusion. check my SIGNATURE |
| Re: Again, CBN Intervenes In FX Market With $210m by akandi4u(m): 7:37am On Jun 27, 2018 |
How long will the keep intervening? 2 Likes |
| Re: Again, CBN Intervenes In FX Market With $210m by Navalsadiq(m): 7:37am On Jun 27, 2018 |
zaragal:u won't understand Argentina do me strong thing 1 Like |
| Re: Again, CBN Intervenes In FX Market With $210m by ebab(m): 7:37am On Jun 27, 2018 |
Good one |
| Re: Again, CBN Intervenes In FX Market With $210m by Nobody: 7:38am On Jun 27, 2018 |
GREATESTPIANIST: Yea. Bro it is |
| Re: Again, CBN Intervenes In FX Market With $210m by Nobody: 7:38am On Jun 27, 2018 |
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| Re: Again, CBN Intervenes In FX Market With $210m by Nobody: 7:39am On Jun 27, 2018 |
| Re: Again, CBN Intervenes In FX Market With $210m by Navalsadiq(m): 7:40am On Jun 27, 2018 |
zaragal:thanks |
| Re: Again, CBN Intervenes In FX Market With $210m by GREATESTPIANIST: 7:41am On Jun 27, 2018 |
Navalsadiq:naija will be great again..... |
| Re: Again, CBN Intervenes In FX Market With $210m by Nobody: 7:43am On Jun 27, 2018 |
zaragal:
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| Re: Again, CBN Intervenes In FX Market With $210m by femmy2010(m): 7:44am On Jun 27, 2018 |
akandi4u: When you make foreign exchange my guess is you have to convert some to Naira for local use right ? So I see nothing wrong with what CBN is doing? |
| Re: Again, CBN Intervenes In FX Market With $210m by Nobody: 7:45am On Jun 27, 2018 |
[quote author=Fukafuka post=68861536][/quote] Wetin make we do?? FRY bread?? |
| Re: Again, CBN Intervenes In FX Market With $210m by israelmao(m): 7:45am On Jun 27, 2018 |
Incessant injection and intervention. |
| Re: Again, CBN Intervenes In FX Market With $210m by Nobody: 7:51am On Jun 27, 2018 |
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| Re: Again, CBN Intervenes In FX Market With $210m by speedyGonzales: 8:18am On Jun 27, 2018 |
this intervention go tire una person wey take over from buhari go inherit a real mess |
| Re: Again, CBN Intervenes In FX Market With $210m by Harrynight(m): 9:30am On Jun 27, 2018 |
But wait o For How long will this intervention and injection continues? |
| Re: Again, CBN Intervenes In FX Market With $210m by Joemetry(m): 9:54am On Jun 27, 2018 |
Please what does this really mean? Does it make Forex traders make more money? |
| Re: Again, CBN Intervenes In FX Market With $210m by otunbakolawole(m): 1:22pm On Jun 27, 2018 |
it depends on what side of the divide you are. This policy is obviously wrong, its not market driven, Nigeria keeps doing the same thing and expect different result. As it is today, we are evidently dependent on that FX intervention, if our reserve should hit any speed bump, we could spiral into recession. its already affecting our budget, huge deficit! Financing those deficits will be a problem and will jeopardize economic growth. As for making Fx traders more money, if you good at it , sure it would. just short the naira before the weekly intervention, and go long once the news breaks. Joemetry: |
| Re: Again, CBN Intervenes In FX Market With $210m by Joemetry(m): 3:26pm On Jun 27, 2018 |
otunbakolawole:Okay thanks sir. This is very much helpful, you sound like you're a trader yourself. |
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