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Nairaland Forum / Nairaland / General / Business / Again Naira Falls, Sells At N465 Per Dollar (13531 Views)
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Again Naira Falls, Sells At N465 Per Dollar by Kingspin(m): 5:31am On Mar 04, 2017 |
Again Naira falls, sells at N465 per dollar ON MARCH 3, 20179:26 PMIN NEWSCOMMENTS The Naira on Friday depreciated against the dollar at the parallel market after posting days of appreciation. The nation’s currency lost N7 to exchange at N465 to a dollar after closing at N458 on Thursday, while the Pound Sterling and the Euro traded at N542 and N480. At the Bureau De Change (BDC) window, the Naira traded at N399 to a dollar, CBN controlled rate, while Pound Sterling and the Euro closed at N610 and N520. Trading at the interbank market saw the Naira sold at N305.25 to a dollar Naira-Dollar CBN injected over 500million dollars into the market, to boost liquidity, but the Naira continued to depreciate. Traders in the market expressed concern about the depreciation of the Naira in spite the gains earlier recorded. Alhaji Aminu Gwadabe, President, Association of Bureau De Change Operators of Nigeria (ABCON), said there was need for a review of the distribution mechanism. “Many banks are selling to only clients with current accounts and not to savings account holders and there is also increasing demand for forex from our neighbouring countries. “The different applicable exchange rates and volumes with Travelex and banks need to be harmonised and with that of BDCs to reduce friction,” Gwadabe said. Read more at: http://www.vanguardngr.com/2017/03/naira-falls-sells-n465-per-dollar/ 1 Like |
Re: Again Naira Falls, Sells At N465 Per Dollar by GameGod(m): 5:39am On Mar 04, 2017 |
Jonah 1 Like |
Re: Again Naira Falls, Sells At N465 Per Dollar by nextprince: 6:02am On Mar 04, 2017 |
Is Bubu back with his policy? Thought his policies affecting the Naira were dropped by the Ag president. Adults thinking/talking like kids. Only kids appreciate the mothers alone because of Cerelac rather than both parents. 9 Likes 2 Shares |
Re: Again Naira Falls, Sells At N465 Per Dollar by Burger01(m): 6:23am On Mar 04, 2017 |
This naira self. This 'change' government don tire me 18 Likes
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Re: Again Naira Falls, Sells At N465 Per Dollar by KINGOFTHEEAST: 6:44am On Mar 04, 2017 |
I no talk am according to the most unstable character in nairaland tonyebarcanister the both are epic failures 16 Likes |
Re: Again Naira Falls, Sells At N465 Per Dollar by dragonking3: 6:53am On Mar 04, 2017 |
Osinbanjo is a failure like his master Buhari the dullard 13 Likes |
Re: Again Naira Falls, Sells At N465 Per Dollar by thuggCheetah(m): 6:58am On Mar 04, 2017 |
Sai buhari |
Re: Again Naira Falls, Sells At N465 Per Dollar by UmuEri(m): 7:00am On Mar 04, 2017 |
After all the hype by Yoloba and all the Lagos-Ibadan express media to make Osinbande look presidential, now the reality is dawning on them. 32 Likes 1 Share |
Re: Again Naira Falls, Sells At N465 Per Dollar by hucienda: 7:04am On Mar 04, 2017 |
One of the recurring themes in this administration has been the forex rate - and they've been terrible at it, as with the economy. 2 Likes |
Re: Again Naira Falls, Sells At N465 Per Dollar by ourema(f): 7:04am On Mar 04, 2017 |
Production and export are the keys to boosting the value of the naira. Any other way lead us to going round and round 32 Likes 2 Shares |
Re: Again Naira Falls, Sells At N465 Per Dollar by tolexy007(m): 7:12am On Mar 04, 2017 |
I suspect say Buhari don enter Nigeria 11 Likes |
Re: Again Naira Falls, Sells At N465 Per Dollar by naija1stpikin: 7:22am On Mar 04, 2017 |
Burger01:really? The thing quick tire you o 3 Likes |
Re: Again Naira Falls, Sells At N465 Per Dollar by Singapore1(m): 7:37am On Mar 04, 2017 |
shall we begin? |
Re: Again Naira Falls, Sells At N465 Per Dollar by teebaxy(m): 7:37am On Mar 04, 2017 |
Op, must be mad...... Why did u have to use the word "again" for something that has been appreciating since.... It's only shows ur lever of hatred and pessimism 8 Likes 2 Shares |
Re: Again Naira Falls, Sells At N465 Per Dollar by Nutase: 7:37am On Mar 04, 2017 |
Buhari and his folks go dey Laf Nigerians wey dey Hale Osinbade magic wand. 8 Likes |
Re: Again Naira Falls, Sells At N465 Per Dollar by Realdeals(m): 7:38am On Mar 04, 2017 |
Only mediocres believe the flux, forex market is about demand and supply. Even with increase govt. forex earnings, I still support they continue with forex supply tightening, we Nigerians still have a lot to learn about being productive. |
Re: Again Naira Falls, Sells At N465 Per Dollar by Flets: 7:40am On Mar 04, 2017 |
It will take so many months to correct the damage caused by Buhari. Buhari needs to leave the scene entirely for Nigeria to progress. No sane investor with his dollars will come close to Nigeria even in Buhari's sick state. The allocation of our forex to northern elites is still happening even in buhari's vegetable status. Pumping in forex into the market by Osibanjo is only a knee jerk reaction which does not threaten speculation. Only a free market supported by FDI inflow, peace in the ND, sustained export and free money movements without fear of EFCC will restore the naira and all these can't happen in a short term. But for a start, Buhari has got to leave the scene voluntarily or involuntarily 7 Likes |
Re: Again Naira Falls, Sells At N465 Per Dollar by Millz404(m): 7:40am On Mar 04, 2017 |
Osi osi.... U know we have bad mouth.... It won't take us anything to switch from praises to soul sapping insults.... Better know what you are doing 3 Likes |
Re: Again Naira Falls, Sells At N465 Per Dollar by freeborn76(m): 7:40am On Mar 04, 2017 |
UmuEri: Silly! 6 Likes 1 Share |
Re: Again Naira Falls, Sells At N465 Per Dollar by Nobody: 7:40am On Mar 04, 2017 |
Chai zanders |
Re: Again Naira Falls, Sells At N465 Per Dollar by freeborn76(m): 7:40am On Mar 04, 2017 |
The sad reality is that some people just reached orgasm through this news... |
Re: Again Naira Falls, Sells At N465 Per Dollar by Nobody: 7:42am On Mar 04, 2017 |
wjhn people were jubilating I told someone to wait lets see. Its too early cosI know say better tin no dey last for this country 1 Like |
Re: Again Naira Falls, Sells At N465 Per Dollar by amarachi06(f): 7:42am On Mar 04, 2017 |
Nothing good comes from apc govt 3 Likes |
Re: Again Naira Falls, Sells At N465 Per Dollar by BJAYADEMOLA(m): 7:42am On Mar 04, 2017 |
It will rise back. 1 Like |
Re: Again Naira Falls, Sells At N465 Per Dollar by jegz25(m): 7:44am On Mar 04, 2017 |
oya Ben Bruce come and defend osinbajo on dis
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Re: Again Naira Falls, Sells At N465 Per Dollar by Meti99(m): 7:46am On Mar 04, 2017 |
Let it return to #150/dollar then I will comment 6 Likes |
Re: Again Naira Falls, Sells At N465 Per Dollar by MrGreenMavro: 7:47am On Mar 04, 2017 |
The fire Brigade approach no work again |
Re: Again Naira Falls, Sells At N465 Per Dollar by Nobody: 7:50am On Mar 04, 2017 |
This is very disappointing news. What just breaks my heart is fellow Nigerians who gloat whenever Naira is depreciated. They celebrate the fall of the Naira, proffer no solutions, yet cry out when there's market inflation. Never have I seen where any white celebrates the fall of their own currency because they hate a political candidate. No wonder they feel a black man's IQ is much lower. Effects of diversification won't be seen till 3-5 years. Even if we do that, do you realize that poor state of power supply would stifle industrialisation? BUT WE STILL HAVE TO DO IT ASAP. We are in big trouble. 8 Likes 1 Share |
Re: Again Naira Falls, Sells At N465 Per Dollar by iykepromotions: 7:51am On Mar 04, 2017 |
highly unstable. |
Re: Again Naira Falls, Sells At N465 Per Dollar by Fessy09(m): 7:54am On Mar 04, 2017 |
i just hope 'osibande ' hasn't been under any threat shaaa. |
Re: Again Naira Falls, Sells At N465 Per Dollar by Almaiga: 7:55am On Mar 04, 2017 |
UmuEri: Quit blaming Osibanjo and Chanel your blames to your Biafran brother, the CBN governor Godwin Emefele, who seems to be the worst CBN governor Nigeria ever had. His cluelessness made him dish out the wrong policies that force the naira to keep falling and the economy................................... 3 Likes |
Re: Again Naira Falls, Sells At N465 Per Dollar by qleap2all(m): 7:58am On Mar 04, 2017 |
Must u go to the parallel market? For once check with the REAL market |
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