Skip to main content

Naira appreciates against Dollar, Euro and Pound at parallel market

- The Naira has gained strength against the major foreign currency at the parallel market 
- The Nigerian currency trades at N363, N480 and N421 against the Dollar, Pound Sterling and Euro respectively 
- CBN has reiterated it’s determination to sustain the provision of foreign exchange 
    The Nigerian Naira on Wednesday, October 4, appreciated against the American Dollar, Pound Sterling and Euro at the parallel market. According to NAIJ.com findings, the local currency has strengthened to N363 per US dollar as against the N364 rate it was on Tuesday, October 3. The Naira also appreciated to N421 against the Euro from the previous rate of 427, while the local currency appreciated to N480 against the Pound from the previous rate of N485. 
Meanwhile in continuation of its effort to sustain foreign exchange (forex) liquidity in the country, the Central Bank of Nigeria (CBN) on Tuesday, October 4, intervened in the interbank forex market to the tune of $195 million 

 Figures released by the Bank showed that it offered the total sum of $100 million to the wholesale segment, while the small and medium scale enterprises (SMEs) segment received the sum of $50 million. The invisibles segment, comprising tuition fees, medical payments and Basic Travel Allowance (BTA), among others, received $45 million. Isaac Okorafor, CBN acting director, corporate communications, while confirming the figures, said the CBN was pleased with the state of the forex market, adding that the paex would continue to intervene in order to sustain the liquidity in the market and guarantee the international value of the naira. 

Comments

  1. Unknown4 October 2017 at 12:13

    I really hope it appreciates more o....God bless Nigeria

    ReplyDelete

Post a Comment

Popular posts from this blog

Lady shares the incredible story of a mad couple in her village (photo)

- A Nigerian lady has shared the touching story of a mad couple in her village  - The couple lived together for twenty two years with their state of insanity  A Nigerian lady identified as Olaide Olakiitan Oluwayemisi has shared the amazing story of a mad couple who lived together against all odds and achieved things some sane couples cannot achieve. The couple’s story was shared to charge all couples in Nigeria. Although no one wants to be mad, the love life of the couple has become an inspiration to many sane people in the society. Oluwayemisi shared the story through her Instagram page. The mad man was identified as Samade while his wife was called Cynthia. The former graduated from University  of  in Nsukka where he studied Physics.  The mad couple lived in a self-built house under a popular bridge at Orile junction according to the story teller. Despite being unable to have comprehensive discussion, the mad love birds found a way to communicate. Their ...
1 comment
Read more

HiTV being remembered as TSTV comes to town

By Prince Osuagwu (Hi-Tech Editor) & Emmanuel Elebeke  It appears a stiff competition is going to happen in the Digital Satellite Television, DSTV space in a few months, as a new cable satellite television operator, TSTV comes to town. The only time this kind of brewing competition happened in that space was between 2007 and 2011 when Entertainment Highway, owners of the defunct High Television, HiTV, had a brief stint in the industry, giving Multichoice a run for its money. HiTV, on August 1, 2007 launched its multi-channel digital satellite television service in Nigeria using Hypercable  Digital Terrestrial technology  and launched Direct to Home (DTH) Satellite technology. It later broadcast its material only on satellite at the price of N3, 500 monthly. It was the first television platform in Africa  to deploy Hypercable, a terrestrial pay-per-view TV decoder system. However, the satellite television operator’s services eventually crashed in November ...
Post a Comment
Read more

Which is the strongest genotype?

But what genotype is stronger and what is so special about the genotype of humans? If you want to know the answers to these question, then take a look at the complete analysis of genotypes and you will find the top 10 traits of a strong genotype!  What is a Genotype?    The term ‘genotype’ and its definition were introduced to the world by a Danish Botanist called Wilhelm Johannsen in 1903. A genotype is the genetic makeup of an organism or group of organisms with reference to a single trait, set of traits, or an entire complex of traits; it is one of the factors that determine the phenotype of humans. There are also inherited and non-inherited epigenetic factors that decide the fate of gene cells and determine the phenotype. The genotype is a hidden genetic sequence inherited by people.      Genotype is a code for phenotype, but a lot of people do not understand the difference between them. It is pretty simple – you can easily see and observe the pheno...
Post a Comment
Read more