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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

Re: Again, CBN Intervenes In FX Market With $210m by Nobody: 7:35am On Jun 27, 2018
First to comment again!!!.... cheesy cheesy cheesy. I am in for it this morning. So what were you saying?? CNN did what cheesy cheesy


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:
First to comment.

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:


Wake up bro...you are 3rd
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:
hmmmmm.... the hustle is real

Yea. Bro it is
Re: Again, CBN Intervenes In FX Market With $210m by Nobody: 7:38am On Jun 27, 2018
grin
Re: Again, CBN Intervenes In FX Market With $210m by Nobody: 7:39am On Jun 27, 2018
Navalsadiq:
u won't understand Argentina do me strong thing


Oh mine. Sooorry dear, take heart!..... cheesy
Re: Again, CBN Intervenes In FX Market With $210m by Navalsadiq(m): 7:40am On Jun 27, 2018
zaragal:



Oh mine. Sooorry dear, take heart!..... cheesy
thanks
Re: Again, CBN Intervenes In FX Market With $210m by GREATESTPIANIST: 7:41am On Jun 27, 2018
Navalsadiq:
u won't understand Argentina do me strong thing
naija will be great again.....
Re: Again, CBN Intervenes In FX Market With $210m by Nobody: 7:43am On Jun 27, 2018
zaragal:
First to comment again!!!.... cheesy cheesy cheesy. I am in for it this morning. So what were you saying?? CNN did what cheesy cheesy


Check my SIGNATURE

Re: Again, CBN Intervenes In FX Market With $210m by femmy2010(m): 7:44am On Jun 27, 2018
akandi4u:
How long will the keep intervening?

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
zaragal:



Wetin make we do?? FRY bread??
.. No ! Just eat Eba grin grin grin

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
grin


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:
Please what does this really mean?

Does it make Forex traders make more money?
Re: Again, CBN Intervenes In FX Market With $210m by Joemetry(m): 3:26pm On Jun 27, 2018
otunbakolawole:
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.
Okay thanks sir.

This is very much helpful, you sound like you're a trader yourself.

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