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Nairaland Forum / Nairaland / General / Business / Naira To Strengthen As Travelex Begins Forex Distribution (21801 Views)
CBN Moves To Strengthen Naira, Injects More Dollars / Pumping Dollars To Strengthen Naira, An Artificial Solution – Expert / Travelex To Commence Sales Of Forex To Bdcs Today (2) (3) (4)
Naira To Strengthen As Travelex Begins Forex Distribution by Truth234(m): 5:03am On Sep 26, 2016 |
The Nigerian Naira is expected to improve against the dollar when Travelex commences operation on Monday. Travelex, an international money transfer agent was first mentioned as an alternative dealer to the Bureau de Change operators in January when the central bank announced its decision to discontinue the sales of forex to the BDCs early this year. It is believed that the introduction of Travelex to Bureau de Change segment will help close the gap between the parallel market and bank’s rate, and facilitates even distribution of forex to the Bureau de Change operators in Nigeria. According to the president of the Association of Bureau De Change Operators of Nigeria, Alhaji Aminu Gwadabe, Travelex has the technology to sell forex to over 1,000 Bureau de Change operators within a few hours, which he said is a major advantage and he assured that the distribution would be efficient and uniform across ABCON members, unlike what was obtained in the past. However, the Naira slid again at the parallel market on Sunday to N440, following the drop in forex liquidity in that segment. While, at the interbank market, the Naira appreciated from N312 it was traded on Tuesday to N307.79 on Friday. Although, experts have said the drop in the Naira value have nothing to do with the decision of the MPC to leave interest rate at 14 percent. But that tighter monetary policy has increased the attractiveness of the fixed income market as investors continue to take advantage of higher yields, leading to weak sentiment towards equities. A situation analysts at Investors King Ltd agreed may persist. http://investorsking.com/naira-to-strengthen-as-travelex-begins-forex-distribution/ 3 Likes 1 Share |
Re: Naira To Strengthen As Travelex Begins Forex Distribution by pgo17(m): 5:11am On Sep 26, 2016 |
This is good news Mean while in otjer news Golf legend Arnold Palmer died on Sunday @87 https://www.youtube.com/watch?v=7mCAKJ8k20c |
Re: Naira To Strengthen As Travelex Begins Forex Distribution by jazinogold(m): 5:35am On Sep 26, 2016 |
wake me up when dullard is one naira 24 Likes 2 Shares |
Re: Naira To Strengthen As Travelex Begins Forex Distribution by dexpee4life(m): 6:05am On Sep 26, 2016 |
A Reactive Government Instead of Being Proactive. SHAME 25 Likes 2 Shares |
Re: Naira To Strengthen As Travelex Begins Forex Distribution by Neimar: 6:39am On Sep 26, 2016 |
iffa hear - e go soon reach 1000naira to 1 dollar 15 Likes |
Re: Naira To Strengthen As Travelex Begins Forex Distribution by Adeoba10(m): 6:40am On Sep 26, 2016 |
Watin i come do for dis propaganda thread early monday.... Isokay.... 16 Likes |
Re: Naira To Strengthen As Travelex Begins Forex Distribution by skotch(m): 6:42am On Sep 26, 2016 |
Fingers crossed 1 Like |
Re: Naira To Strengthen As Travelex Begins Forex Distribution by agarawu23(m): 6:42am On Sep 26, 2016 |
If I hear 2 Likes |
Re: Naira To Strengthen As Travelex Begins Forex Distribution by bigtt76(f): 6:43am On Sep 26, 2016 |
Is CBN giving her forex to Travelex to redistribute or are we depending on Travelex's forex? Truth234: 10 Likes |
Re: Naira To Strengthen As Travelex Begins Forex Distribution by shilexholly(m): 6:43am On Sep 26, 2016 |
I. Just hope it will really have impact..... When tins go up in nija it's coming down is tough 5 Likes |
Re: Naira To Strengthen As Travelex Begins Forex Distribution by MrTour: 6:43am On Sep 26, 2016 |
Mod I posted this same news last night why did it not make front page, I referenced mine too https://www.nairaland.com/3370988/naira-begin-recovery-next-week 3 Likes |
Re: Naira To Strengthen As Travelex Begins Forex Distribution by Nobody: 6:44am On Sep 26, 2016 |
naira will gain naturally when the economy improves, this is econs 101. empower and encourage farmers, see all the vast lands along lagos ibadan expressway? the can grow crops. improve healthcare by building world class grade hospitals and improving on the service delivery of our general hospitals, equip them and employ all these nigerian doctors working in US, UK, etc hospitals trust me, foreigners will fly in for treatments, i call that healthcare export. get stable and affordable power supply for businesses, homes and hospitals get a maintainance plan for our roads, both federal and state roads, this will reduce non productive hours spent on the road, it will improve the lifespan of our vehicles and money saved from repairs can go toward better things. do you even know that getting good roads all over lagos for instance will make houses more affordable for the masses? yes, when there are good and motorable roads in any area, people will migrate there and when there is less demand and more supply in expensive areas, landlords will reduce their rates in those areas. this is how to START to grow the economy. 30 Likes 2 Shares |
Re: Naira To Strengthen As Travelex Begins Forex Distribution by Airforce1(m): 6:44am On Sep 26, 2016 |
Na so dem dey talk 1 Like |
Re: Naira To Strengthen As Travelex Begins Forex Distribution by RichYoungNigger(m): 6:45am On Sep 26, 2016 |
$1 is now 435 naira as of today. Let me tell you something, it will get worse, we can never recover from this mess Buhari put us into The Almighty USA (The greatest country in the world) with millions of economists and professionals went into recession and never came back, go to Detroit, Pennsylvania, New Jersey, Las Vegas, Alaska, you will understand what I'm saying, It broke everything in America till date. How do think a country like Nigeria with a president who didn't even finish High school, who borrowed 4 trillion naira in just 12 months in office will survive the recession ?? This is a story we will tell our grandchildren "How an old man fuccked up a great country and now India is even better than The Great Nigeria. I saw this coming, i cried about it, i told people not to vote for Buhari but they needed change, Nigeria died the very day Goodluck Jonathan left office *spits 32 Likes 2 Shares
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Re: Naira To Strengthen As Travelex Begins Forex Distribution by HRich(m): 6:46am On Sep 26, 2016 |
Until 1 dollars equals to 1 Naira you are saying nothing 11 Likes 1 Share |
Re: Naira To Strengthen As Travelex Begins Forex Distribution by feldido(m): 6:46am On Sep 26, 2016 |
Another story to deviate our minds from the sufferings this recession has caused us... All of a sudden Travelex have decided to start operations, what have they been doing since January, why now when things have gotten worse? U can't deceive us anymore 15 Likes |
Re: Naira To Strengthen As Travelex Begins Forex Distribution by amagunnerfan: 6:49am On Sep 26, 2016 |
Forget it, the naira won't stabilise until the economy has. The laws of demands and supply are simple and will be the main reason why the nairaland will continue to be useless until the government's drive to diversify the economy starts to yield result. 8 Likes |
Re: Naira To Strengthen As Travelex Begins Forex Distribution by justi4jesu(f): 6:49am On Sep 26, 2016 |
Are you sure? 1 Like |
Re: Naira To Strengthen As Travelex Begins Forex Distribution by Nobody: 6:50am On Sep 26, 2016 |
Deceiving gullible Nigerians as always. In January when they instituted the reform, they told us that it will converge official and parallel rates into one rate to be determined by market fundamentals, and will appreciate Naira value. It's 9 months now; not only did the two rates not converge, naira has fallen by whopping 50% since then. And now again they are bringing another reform? Save this post...Naira will plunge abysmally in the next couple of weeks and you know the excuse we will be hearing? Banks will be blaming Travelex for monopolizing the Forex market. 11 Likes 1 Share |
Re: Naira To Strengthen As Travelex Begins Forex Distribution by Compliant(m): 6:51am On Sep 26, 2016 |
Good news BUT we need result as fast as possible |
Re: Naira To Strengthen As Travelex Begins Forex Distribution by Icon4s(m): 6:51am On Sep 26, 2016 |
APC journalists and their text book economics. 6 Likes |
Re: Naira To Strengthen As Travelex Begins Forex Distribution by Obagoblog(m): 6:51am On Sep 26, 2016 |
hm |
Re: Naira To Strengthen As Travelex Begins Forex Distribution by Compliant(m): 6:52am On Sep 26, 2016 |
Icon4s: THEM USE APC SWEAR FOR YOU? WHILE CARRY PARTY WAHALA FOR HEAD LIKE THIS? YOU JUST WOKE UP THIS MORNING AND INSTEAD OF YOU TO LOOK FOR WHAT TO DO ,YOU ARE HERE SAYING APC . 2 Likes
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Re: Naira To Strengthen As Travelex Begins Forex Distribution by obontami: 6:53am On Sep 26, 2016 |
buhari surely won't go unpunished 8 Likes |
Re: Naira To Strengthen As Travelex Begins Forex Distribution by bobo65(m): 6:53am On Sep 26, 2016 |
Same old song Before it was naira to strengthen as floating begins, instead of naira to float, it was sinking I hope this one won't finally drown naira 5 Likes |
Re: Naira To Strengthen As Travelex Begins Forex Distribution by highwaist: 6:54am On Sep 26, 2016 |
Nairaland is going up,while nira is going down.nawa oooo |
Re: Naira To Strengthen As Travelex Begins Forex Distribution by bobo65(m): 6:55am On Sep 26, 2016 |
highwaist: U ain't even noticing that the adverts on nl are reducing? For now, na traffic dey hold nl o 2 Likes |
Re: Naira To Strengthen As Travelex Begins Forex Distribution by gbemmy2k10(m): 6:55am On Sep 26, 2016 |
make una do quick o jare. I won buy new phone imagine infinix hot4 na 40+k. |
Re: Naira To Strengthen As Travelex Begins Forex Distribution by omooba969(m): 6:56am On Sep 26, 2016 |
Ok |
Re: Naira To Strengthen As Travelex Begins Forex Distribution by Nobody: 6:56am On Sep 26, 2016 |
Me I'm not understanding anymore |
Re: Naira To Strengthen As Travelex Begins Forex Distribution by omooba969(m): 7:03am On Sep 26, 2016 |
RichYoungNigger: So PMB messed up the economy right? Certainly you are not thinking straight because it is clear to all that this is the ripple effect of the 16yr mismanagement of our economy by PDP. You may choose to be in denial but an educated mind will never divorce this present economic conditions from those 16yrs of plenty. The way you also ended your post speaks volume of how clouded your sense of judgment is & your level of education with regards to economics. Seek knowledge! 11 Likes |
Re: Naira To Strengthen As Travelex Begins Forex Distribution by omorttee4u(m): 7:04am On Sep 26, 2016 |
Nice move, let's start from there. |
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