GTB 737 banner Yudala banner

CBN crashes dollar rate

By News Express on 21/04/2017

Share on facebook Yahoo mail icon Gmail icon

Views: 1,047


The Naira firmed up at the Bureau de Change (BDCs) segment on Thursday, trading at between N376 and N378 to the United States Dollar in Lagos, Abuja and Kano, following interventions by the Central Bank of Nigeria (CBN).

A market survey revealed that the naira, which sold at over N405 to $1 as Monday this week, recorded a boost.

There were indications that the appreciation of the naira was as a result of policy actions of the CBN to inject more foreign exchange into the financial system, specifically targeting critical sectors in addition to special interventions in the areas of SMEs and BDCs.

According to a source at the apex bank, the naira is expected to appreciate further when the BDCs receive further tranches of dollar from the CBN.

It would be recalled that the CBN in its bid to sustain supply of liquidity to the foreign exchange market, made special interventions by simplifying the documentation process for the SMEs to enable them import eligible items and also increased both the amount and number of sales to the BDCs

Source News Express

Posted 21/04/2017 12:16:45 AM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

 

You may also like...
Boko not yet in full control of Bama...

Bayelsa: What manner of Assembly?, By Daniel Iworiso-Markson...

Troops, DSS operatives capture foreign terrorists

FG moves to end strikes in varsities •Inaugurates...

Abducted ex-Minister Akwanga regains freedom

Heirs Holdings announces appointment of Group CEO

Tie Suleiman Abba’s confirmation to how he handles...

Islamic militants bury women and children alive in...

Nigeria: Gas-flaring continues to poison the air, kill...

TB Joshua named in witchcraft scandal

Troops ambush, kill Boko Haram suicide bomber

Osun College: EFCC arrests Bisi Akande’s brother over...

 

Latest News NDDC cancels N200 billion contracts Police captures 10 suspected cultists in Lagos Mugabe bounces back Anambra Guber Polls: Monitoring Group panics over voter apathy, deploys observers Murtala Foundation steps in to rescue sick Chibok girls as FG fails to pay medical bills Buhari working wonders despite inheriting empty purse — Lai Mohammed Why we arrested Ex-SGF Pius Anyim — EFCC Anambra 2017: Season of smear campaigns ENSIEC declares PDP candidates winners of Enugu bye-election ICPC seeks to prosecute corruption cases in federal high courts, others Umahi admits irregularities in attorney-general’s appointment Secondus vows to move PDP to another level if elected National Chairman

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (294,042 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (277,870 views) Shameless Genevieve Nnaji exposes breasts in public (224,335 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (188,792 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (181,168 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (165,697 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (143,846 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (130,343 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (126,581 views) Lagos plane crash: Journalist releases victims’ names (116,366 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (113,578 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (107,065 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (30) Business (2,771) Business Verdict (26) Columnists (769) Complaints & Requests (93) Enterprise & Opportunities (186) Entertainment (404) Features (508) Global Business Monitor (190) International (1,639) Interviews (138) Live Commentary (28) Love Matters (82) News (30,312) Opinion (837) Pidgin (9) Politics (4,096) Religion (648) Sports (1,355) Stock Watch (24) AMA & Al Jazeera Global Update

 

UBA mobile app

CBN Words on marble

 

 

Argentina vs Nigeria

 

APO Group Partner

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!