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: 873


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 Haram loses 4 more towns as troops...

Community debunks claim of involvement of Obiano over...

Rivers PDP laments absence of federal projects in...

TECNO partners Airtel and Qualcomm, unveils Smartphone for...

Gombe ready to pay N56,000 minimum wage: Governor...

Ekitigate: Fayose set me up on reconciliation –Aluko...

Insurgency: HURIWA canvasses compulsory military training for all...

Academy of Pharmacy honours Akunyili, others

Nnanna appointed Chairman of Africa Finance Corporation

Etsu Nupe leads monarchs to IBB

Heritage Bank is not distressed: CBN

Nigerian Customs seize over 1,000 smuggled poultry products...

 

Latest News Breaking: Buhari back home from London today after medical vacation BREAKING NEWS: IPOB makes U-Turn, withdraws threat to stop Anambra governorship election Anambra lawyers turn against IPOB, blame Nnamdi Kanu for Ekwulobia tragedy Kwara confirms outbreak of Lassa Fever Whereabouts of 3 Bayelsa indigenes arrested by soldiers remain unknown 15 months after •Families lament Nigeria needs to return to true federalism — Anyaoku NMA charges FG to improve health sector Boko Haram steps up attacks on refugee camps in Northeast Freed Chibok girls not living in solitary confinement: FG Rain of eulogies as Justice Obaseki is buried in Benin NLC condemns attack on EFCC NiMet foresees isolated cases of rain today in South East, clouds and thunderstorms elsewhere

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (271,628 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (253,404 views) Shameless Genevieve Nnaji exposes breasts in public (205,890 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (174,221 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (172,787 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (154,215 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (133,564 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (124,967 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (117,608 views) Lagos plane crash: Journalist releases victims’ names (109,092 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (108,549 views) APC cries foul as PDP’s Fayose takes early lead in Ekiti governorship election (101,032 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (27) Business (2,661) Business Verdict (19) Columnists (727) Complaints & Requests (92) Enterprise & Opportunities (172) Entertainment (351) Features (476) Global Business Monitor (170) International (1,492) Interviews (128) Live Commentary (28) Love Matters (67) News (27,559) Opinion (780) Pidgin (8) Politics (3,856) Religion (595) Sports (1,305) Stock Watch (23) AMA & Al Jazeera Global Update

 

UBA mobile app

CBN words on marble advert

 

 

Senator Adeleke on the dancing steps in London

 

APO Newsbreak logo

 

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!