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Nairaland Forum / Nairaland / General / Business / Naira Quoted At 253/$ As Interbank Market Opens (46420 Views)
Naira Appreciates To N435/$, As CBN Injects $180m. / Naira Appreciates To N455/$ As External Reserves Hit $30bn / Naira Finally Improves At The Interbank Rate (2) (3) (4)
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Re: Naira Quoted At 253/$ As Interbank Market Opens by tbaba1234: 12:14pm On Jun 20, 2016 |
ifyalways: http://www.bloomberg.com/quote/USDNGN:CUR That is what $ is trading at, right now... The difference will be narrower in the next few days as liquidity improves and the market stabilizes 3 Likes |
Re: Naira Quoted At 253/$ As Interbank Market Opens by crazymommy(f): 12:14pm On Jun 20, 2016 |
bebe2:The market is now a single market based on supply and demand,so the market will be rising and falling ....unlike before that cbn fixed the rate...making the demand higher but very less supply....now inbound transfer will increase,higher cash flow,low spreads,round tripping will be reduced massively.... 5 Likes |
Re: Naira Quoted At 253/$ As Interbank Market Opens by tbaba1234: 12:15pm On Jun 20, 2016 |
ifyalways: It is not fake that is what Naira is trading for.... 1 Like |
Re: Naira Quoted At 253/$ As Interbank Market Opens by AtlanticBreeze: 12:16pm On Jun 20, 2016 |
tbaba1234: Now who is dumb.. Apologize for misleading the people.. cc lalasticlala The currency of Africa’s biggest economy fell 24 percent to a record 260.5 versus the dollar, from Friday’s rate of 199, before paring the decline to trade 23 percent weaker at 257.75 by 11:28 a.m. in Lagos, the commercial capital. http://www.bloomberg.com/news/articles/2016-06-20/emerging-market-assets-rally-as-remain-gathers-momentum-in-u-k |
Re: Naira Quoted At 253/$ As Interbank Market Opens by conyema12(m): 12:16pm On Jun 20, 2016 |
All these are Economic jargons to deceive us. Aboki still dey sell dollar 330
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Re: Naira Quoted At 253/$ As Interbank Market Opens by ifyalways(f): 12:16pm On Jun 20, 2016 |
Optionalx: My brother. See people rejoicing and typing 257 everywhere when its NOT obtainable on ground. Is this not propaganda ? I saw this thread and was confused because I had earlier wanted to make an online payment in usd, called three banks namely :Stanbic, GTB and Access and the cheapest rate was 340. Fake thread. 3 Likes |
Re: Naira Quoted At 253/$ As Interbank Market Opens by bayulll011(m): 12:17pm On Jun 20, 2016 |
PassingShot: oh my God what always pains me most is people answeing some olodos here on NL allow the guy to langiuse in his stupidityyyy I beg of u |
Re: Naira Quoted At 253/$ As Interbank Market Opens by tbaba1234: 12:17pm On Jun 20, 2016 |
AtlanticBreeze: You know absolutely nothing about this stuff and keep commenting.. 4 Likes |
Re: Naira Quoted At 253/$ As Interbank Market Opens by jibga(m): 12:18pm On Jun 20, 2016 |
PassingShot:you said it all 3 Likes |
Re: Naira Quoted At 253/$ As Interbank Market Opens by ifyalways(f): 12:18pm On Jun 20, 2016 |
conyema12:Not just a.boki even banks oo. How this FAKE thread got to the frontpage beats me. GTB actually sold 330 on friday and this morning its 340 YET nld and its moderators are mis-informing people . |
Re: Naira Quoted At 253/$ As Interbank Market Opens by AtlanticBreeze: 12:19pm On Jun 20, 2016 |
tbaba1234:You are fraud.. Hide your face in shame... |
Re: Naira Quoted At 253/$ As Interbank Market Opens by berrystunn(m): 12:19pm On Jun 20, 2016 |
greatiyk4u: They should take us back to where they pick us from...., Nonsense. |
Re: Naira Quoted At 253/$ As Interbank Market Opens by AtlanticBreeze: 12:20pm On Jun 20, 2016 |
ifyalways:Lalasticlala will be quick to send fake news to FP while ignoring my threads.. Nairaland is now a forum of misinformation.. cc seun 1 Like |
Re: Naira Quoted At 253/$ As Interbank Market Opens by Nobody: 12:21pm On Jun 20, 2016 |
Too many dumb fellow here on NL. Tbaba you dont have to answer every dog that barks at you. 1 Like |
Re: Naira Quoted At 253/$ As Interbank Market Opens by tbaba1234: 12:21pm On Jun 20, 2016 |
3 Likes |
Re: Naira Quoted At 253/$ As Interbank Market Opens by crazymommy(f): 12:21pm On Jun 20, 2016 |
ifyalways: 5 Likes
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Re: Naira Quoted At 253/$ As Interbank Market Opens by teemy(m): 12:21pm On Jun 20, 2016 |
tbaba1234:Important to note is that the listed amount of N253/$ is the opening price for the day. Within hours or even minutes that amount would find its level. Wait till day's end to gauge a more accuarate range. |
Re: Naira Quoted At 253/$ As Interbank Market Opens by idupaul: 12:22pm On Jun 20, 2016 |
PassingShot: Utter gibberish. .this type of gibberish is getting to common in Nigeria . Call it want you want but any economist worth his salt knows the naira has been deregulated meaning for a country that imports more than it exports it value will drop meaning the naira is devalued at the inter bank state.. 1 Like |
Re: Naira Quoted At 253/$ As Interbank Market Opens by Businessideas: 12:22pm On Jun 20, 2016 |
Baylam:Abi na ![]() |
Re: Naira Quoted At 253/$ As Interbank Market Opens by idupaul: 12:23pm On Jun 20, 2016 |
tbaba1234: Please keep deceiving yourself |
Re: Naira Quoted At 253/$ As Interbank Market Opens by ifyalways(f): 12:23pm On Jun 20, 2016 |
tbaba1234:Trading where ? Simple question: Which bank(s) is selling usd for 257 or even 300 today ? 2 Likes |
Re: Naira Quoted At 253/$ As Interbank Market Opens by tbaba1234: 12:26pm On Jun 20, 2016 |
ifyalways: On the interbank market... Once there is stability, it will not be much different from how much you buy? Read the title of the thread... 7 Likes |
Re: Naira Quoted At 253/$ As Interbank Market Opens by deflover(m): 12:26pm On Jun 20, 2016 |
wayodude:the guy wants us to pray I laughed so hard that tears came out I couldn't believe there are zombies with PhD |
Re: Naira Quoted At 253/$ As Interbank Market Opens by chucksbadt(m): 12:26pm On Jun 20, 2016 |
PassingShot: Was Pounds Affected by this New Policy?........Because all what's being talked about now is the Dollar! |
Re: Naira Quoted At 253/$ As Interbank Market Opens by tbaba1234: 12:26pm On Jun 20, 2016 |
catlova2: Thanks.. |
Re: Naira Quoted At 253/$ As Interbank Market Opens by ifyalways(f): 12:28pm On Jun 20, 2016 |
tbaba1234:OK. |
Re: Naira Quoted At 253/$ As Interbank Market Opens by uncleu(m): 12:32pm On Jun 20, 2016 |
I think the problem is that a lot of people are so ignorant of how these things work. The amount quoted are not fake. Look at how it works. The banks are bidding on behalf of customers who have already fulfilled certain requirements. This include filling proforma involve and all the rest. The need for the foreign currency must also be for items included in the foreign exchange regimen. Since you haven't gone through that process, the banks are giving you black market rates. My problem is with the disparity between this rate and the black market rate. We know our immediate problem started with the exclusion of those 14 items from the foreign exchange regimen. They still haven't been included. They still will put undue pressure on the black narket. ifyalways: |
Re: Naira Quoted At 253/$ As Interbank Market Opens by deflover(m): 12:32pm On Jun 20, 2016 |
tbaba1234: let me school you a bit in trading....with the interbank rate at 250 it means the market opened at a gap of 70bp....meaning a spread that huge can signal more bull for the dollar. now it also means the long standing fixed resistance of 197 has been broken now market forces will take it higher as the price of crude and other commodities force it on its knees I am only being nice with 600naira trust me it can go worse.. |
Re: Naira Quoted At 253/$ As Interbank Market Opens by crazymommy(f): 12:35pm On Jun 20, 2016 |
uncleu:You even get time to answer that one that is jumping into conclusions... |
Re: Naira Quoted At 253/$ As Interbank Market Opens by Ufeolorun(m): 12:35pm On Jun 20, 2016 |
Theres no point kicking off over semantics,really. devaluation or a float, the end game is to ensure the naira is trading at fair value and I believe it's premature for anyone to take whats happening today too seriously - give it a week.And if you need Fx-data for planning reasons, check what the forward rate market quotes 2 Likes |
Re: Naira Quoted At 253/$ As Interbank Market Opens by Bollinger(m): 12:35pm On Jun 20, 2016 |
neocortex: Then that is the price you all should be concerned about. |
Re: Naira Quoted At 253/$ As Interbank Market Opens by ErasmusCOMP: 12:35pm On Jun 20, 2016 |
shyling:That's why I sometimes don't get angry with wailers when they call some of them zombies. Tomorrow, we may end up with fx of N460/$ and you won't see them here again praising the president. Why can't these paid ethnic/religious fanatical zombies allow naira/dollar fx to stabilize before shouting their usual sai baba praise? May God guild president Buhari in the right path. |
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