Shell Energy Entrepreneurs banner Yudala banner
CBN crashes dollar rate

By News Express on 21/04/2017

Share on facebook Yahoo mail icon Gmail icon

Views: 1,189


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

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!

 

You may also like...
Police offer N50m ($300,000 or £177,000) reward for...

FMBN enlists EFCC’s assistance to recover debts

Leadership in a time of Ebola and insurgency,...

Nigeria LNG exports landmark 4,000th cargo

U.S. Supreme Court stops execution of prison inmates...

Senate rejects Buhari’s request for $29.6bn external borrowing...

Anambra flood victims receive N20m presidential relief materials...

No plans to increase fuel price, says NNPC...

Treat Fulani herdsmen as terrorists, Ijaw Youths charge...

Massacre: How Buhari and Obiano’s men committed crimes...

Boko Haram: Nigeria attacks US for blocking arms...

Permanent solution coming to Apapa gridlock: Ambode and...

 

Latest News 12 killed, 48 wounded in Maiduguri suicide bomb attack 6 killed in fresh Benue attacks American, Canadian kidnapped in Kaduna, 2 police escorts killed Wicked grandma burns 9-year-old granddaughter’s hands for eating brother’s food Fake healer held over fake pregnancies School children donate household items to troops fighting insurgency in North-East Seek justice and reparation for victims of attacks by herdsmen, SERAP tells Buhari UK Prime Minister appoints Minister for Loneliness Bauchi Fertiliser Company set to take over northern market Ohanaeze President General dismisses accident rumour Militancy: Bayelsa professionals seek investigation of Sylva, Lokpobiri Umeh unfolds agenda as Senator for Anambra Central

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (314,594 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (303,739 views) Shameless Genevieve Nnaji exposes breasts in public (243,866 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (200,973 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (189,690 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (178,948 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (155,228 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (139,182 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (135,853 views) Lagos plane crash: Journalist releases victims’ names (124,191 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (121,328 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (118,711 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (33) Business (2,850) Business Verdict (32) Columnists (790) Complaints & Requests (94) Enterprise & Opportunities (200) Entertainment (431) Features (541) Global Business Monitor (222) International (1,743) Interviews (139) Live Commentary (28) Love Matters (100) News (31,951) Opinion (864) Pidgin (10) Politics (4,351) Religion (666) Sports (1,405) Stock Watch (25) AMA & Al Jazeera Global Update

 

CBN Banner advert

CBN Words on marble

 

 

Thierry Henry in Lagos 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

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!