Stats: 3,191,117 members, 7,943,034 topics. Date: Saturday, 07 September 2024 at 11:30 PM |
Nairaland Forum / Nairaland / General / Business / Naira Appreciates To N498/$ As Reserves Hit $28.3bn (8592 Views)
Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs / Naira Watch: Naira Appreciates To N420/$ / Naira Appreciates To N455/$ As External Reserves Hit $30bn (2) (3) (4)
Naira Appreciates To N498/$ As Reserves Hit $28.3bn by dammy13(m): 3:53am On Feb 08, 2017 |
Having depreciated in value to N500 to the dollar at the parallel market, the value of the naira appreciated to N498 to the dollar, the value it had been trading for weeks or weeks, even as external reserves rose to $28.28 billion the highest in the year highest in a year. The naira however remained stable at N305.25 to the dollar at the interbank market, on the website of the Association of Bureau de Change Operators; the naira was quoted at N315.38 to the dollar. Demand for the greenback grew and the Central Bank of Nigeria rationed dollar supply, having sold $660 million in 3- and 5- month currency forwards at an auction aimed at clearing a backlog of dollar demand. Traders however said the dollar sale was not enough to satisfy the market. Data on the website of the apex bank showed that the nation’s external reserves has risen by 7.89 per cent since the beginning of the year. Traders said while the apex bank has been selling dollars on the official market to support the naira, dollar shortages were causing the naira to weaken on the black market. Head of Africa Research at Standard Chartered Bank, Razia Khan said, “Despite rising foreign exchange reserves, it is the amount of forex that is supplied that matters. http://www.kikiotolu.com/2017/02/naira-appreciates-to-n498-as-reserves.html Lalasticlala Mynd44 seun Dominique 1 Like 2 Shares |
Re: Naira Appreciates To N498/$ As Reserves Hit $28.3bn by seunlayi(m): 4:04am On Feb 08, 2017 |
Good news and bad news. The good is that it appreciated by around #2 and the bad is that it depreciated from 220 to #498 in less than 2yrs, no thanks to our careless govt. Meanwhile, [size=14pt]today is my day,happy birthday to me[/size]. Show your love to me and your hatred to this unwanted recession. to the poster below, whenever you see a post of a alphabet or more or a very short sentence on FP try to understand that it is the usual habit of booking space. It happens everywhere especially on landed properties so it is on Nairaland. Therefore, hesitate to conclude on what the poster actually intend to post. Thank you 14 Likes 1 Share |
Re: Naira Appreciates To N498/$ As Reserves Hit $28.3bn by kabrud: 4:49am On Feb 08, 2017 |
seunlayi: Sorry for asking, what is good about the news? A step forward and several steps backward. 2morro we go hear 505/$ mtchewww. 34 Likes |
Re: Naira Appreciates To N498/$ As Reserves Hit $28.3bn by lifter1000: 5:47am On Feb 08, 2017 |
Interbank. 305. BDC 315! Black market: 498. This is stupidity. 3 diff rates? 22 Likes 1 Share |
Re: Naira Appreciates To N498/$ As Reserves Hit $28.3bn by Marvel1206: 7:23am On Feb 08, 2017 |
Total Rubbish 11 Likes 1 Share |
Re: Naira Appreciates To N498/$ As Reserves Hit $28.3bn by niyifour(m): 7:23am On Feb 08, 2017 |
Ftp |
Re: Naira Appreciates To N498/$ As Reserves Hit $28.3bn by fulaniHERDSman(m): 7:23am On Feb 08, 2017 |
![]() ![]() ![]() People are dying of hunger and iidiots are blabbing about fabricated reserve figures. ![]() ![]() 15 Likes |
Re: Naira Appreciates To N498/$ As Reserves Hit $28.3bn by Wikinaija(m): 7:23am On Feb 08, 2017 |
Osinbanjo promise us 5000 monthly said recession will be over see here.... https://www.wikinaija.net/2017/02/osinbajo-assures-nigerians-recession-will-soon-history/ |
Re: Naira Appreciates To N498/$ As Reserves Hit $28.3bn by Nobody: 7:23am On Feb 08, 2017 |
Pls What Is The Difference? ![]() 1 Like |
Re: Naira Appreciates To N498/$ As Reserves Hit $28.3bn by SmartMugu: 7:24am On Feb 08, 2017 |
N498 is approximately N500. I learnt that in primary 3. 23 Likes 1 Share |
Re: Naira Appreciates To N498/$ As Reserves Hit $28.3bn by Marvel1206: 7:24am On Feb 08, 2017 |
seunlayi:1 step forward, ten steps backward 2 Likes |
Re: Naira Appreciates To N498/$ As Reserves Hit $28.3bn by Adesiji77: 7:25am On Feb 08, 2017 |
lifter1000: "3 diff rates"? You didn't even say 6 or 7! ![]() 9 Likes 2 Shares |
Re: Naira Appreciates To N498/$ As Reserves Hit $28.3bn by Dindondin(m): 7:25am On Feb 08, 2017 |
ok |
Re: Naira Appreciates To N498/$ As Reserves Hit $28.3bn by hucienda: 7:25am On Feb 08, 2017 |
lifter1000: Welcome to the APC leadership. 12 Likes |
Re: Naira Appreciates To N498/$ As Reserves Hit $28.3bn by chimchim1(m): 7:26am On Feb 08, 2017 |
Which is bdc and black market? They are supposed to mean same thing my dear. lifter1000: |
Re: Naira Appreciates To N498/$ As Reserves Hit $28.3bn by Sunmolar(m): 7:26am On Feb 08, 2017 |
Why can't govt borrow the equivalent of this and get our economy booming? Since investors are not coming. A very good morning from here |
Re: Naira Appreciates To N498/$ As Reserves Hit $28.3bn by wristbangle: 7:27am On Feb 08, 2017 |
We have too many operators in the exchange rate market. Probably by the influence of evil cabals for personal enrichment. |
Re: Naira Appreciates To N498/$ As Reserves Hit $28.3bn by terrezo2002(m): 7:27am On Feb 08, 2017 |
I believe Nigeria will be great again |
Re: Naira Appreciates To N498/$ As Reserves Hit $28.3bn by shamecurls(m): 7:28am On Feb 08, 2017 |
God bless the present administration for there tremendous efforts in trying to stabilize the economy of our great country. God bless His Excellence, President Mohammadu Buhari God bless The Federal republic of Nigeria 4 Likes 1 Share |
Re: Naira Appreciates To N498/$ As Reserves Hit $28.3bn by obembet(f): 7:29am On Feb 08, 2017 |
So what is the different 500/ 498 Nigeria dey sick 3 Likes |
Re: Naira Appreciates To N498/$ As Reserves Hit $28.3bn by SexyNairalander: 7:29am On Feb 08, 2017 |
booked |
Re: Naira Appreciates To N498/$ As Reserves Hit $28.3bn by Nobody: 7:32am On Feb 08, 2017 |
Appreciate Kwa? Buhari has finished this country 12 Likes
|
Re: Naira Appreciates To N498/$ As Reserves Hit $28.3bn by emmanwandud(m): 7:32am On Feb 08, 2017 |
With osinbajo in charge u could see we are appreciating dollae wise even though at a slow rate .sometime speed kills ,sllow and steady naira wins the race. |
Re: Naira Appreciates To N498/$ As Reserves Hit $28.3bn by Nobody: 7:33am On Feb 08, 2017 |
how is this good news Abeg. It's shameful 3 Likes |
Re: Naira Appreciates To N498/$ As Reserves Hit $28.3bn by kolnel: 7:33am On Feb 08, 2017 |
This is no meaningful appreciation It's swinging between 495 and 500 I hope naija gets back to pre buhari era 5 Likes |
Re: Naira Appreciates To N498/$ As Reserves Hit $28.3bn by mykelmeezy: 7:34am On Feb 08, 2017 |
498 .500 whats the difference mtshewww |
Re: Naira Appreciates To N498/$ As Reserves Hit $28.3bn by ayusco85(m): 7:34am On Feb 08, 2017 |
We know who is controlling the price in the black market. We need to do something to those abokis |
Re: Naira Appreciates To N498/$ As Reserves Hit $28.3bn by Antoeni(m): 7:34am On Feb 08, 2017 |
JONATHAN and his crew will jst be laughing at Us, 8 Likes |
Re: Naira Appreciates To N498/$ As Reserves Hit $28.3bn by Nobody: 7:34am On Feb 08, 2017 |
Seriously?? Appreciation? Hopeless 3 Likes |
Re: Naira Appreciates To N498/$ As Reserves Hit $28.3bn by Nobody: 7:35am On Feb 08, 2017 |
shamecurls: Do u enjoy being stupid? 14 Likes |
Re: Naira Appreciates To N498/$ As Reserves Hit $28.3bn by KingRex1(m): 7:35am On Feb 08, 2017 |
lifter1000:There are even 5 of them.. In just one country . 4 Likes |
Re: Naira Appreciates To N498/$ As Reserves Hit $28.3bn by worlexy(m): 7:36am On Feb 08, 2017 |
Do we even have an economic team in this country ![]() 7 Likes |
Marketing Mistakes For Startup Businesses To Avoid / We are looking for these olden days items to buy, N100k - N1million / Extortion By Intercontinental Bank PLC
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 21 |