The Nigerian naira on Wednesday recorded a minor gain against the United States dollar at the Forex market.
Currency exchange rate
The naira recorded a marginal gain on Wednesday as it closed N367
to a dollar, up from 368 on Tuesday. This comes as the local currency
has been hovering between 363/dollar and 370/dollar as the Central Bank
of Nigeria continues to supply foreign exchange into the market.
Meanwhile, the CBN sold $195m in various segments of the inter-bank
market on Wednesday, the first day of transaction after the Eid-el-Fitr
celebration.
A breakdown of the intervention indicates that authorised dealers
in the wholesale window segment received a $100m offer from the bank,
while the Small and Medium-scale Enterprises and invisibles windows were
allocated the sums of $50m and $45m, respectively.
The bank’s Acting Director, Corporate Communications, Mr. Isaac
Okorafor, confirmed the figures and disclosed that the bank was
impressed by the high level of transparency exhibited by stakeholders in
the market, according to a statement by the lender.
The CBN had in its last intervention on Friday, allocated the total
sum of $240m to the Retail Secondary Market Intervention Sales for spot
and forward deals.
With the rate of inflation dropping from its April 2017 figure of
17.24 per cent to 16.25 per cent at the end of May, 2017, the CBN
spokesman said the bank remained upbeat that the fortunes of the naira
would improve further in the months to come.
The central bank has been intervening on the official market in the
last few months to try to narrow the spread between rates on the
official market and black market. It has sold over $5bn since February.
Tonygists with a domain of www.tonygists.com has moved to a new domain www.tonygist.com to serve you better... Tonygist is still under the custody of Tony Odijie.....But you can still connect with us on our social media handles eg Facebook , Instagram , Youtube1 , Youtube2 , Twitter as Tonygists. Our android application still remains the same as Tonygists on Google play store. Thanks for your understanding
Subscribe to Tonygists by Email
Reliance Training and Management Consulting, a dynamic, fast growing indigenous entity, was established and duly registered with the aim to nurture, develop and innovate people and organisations through customized training, development and management consulting services, with excellent performance, deep sense of commitment, transparency, honesty and responsibility, to demonstrate the highest standard of technical and operational expertise.
Reliance is competently positioned to provide technical knowledge and skills relevant to practical management and business problems, to stimulate the creativity and innovation necessary to build a better community, a better nation and a better world with a committed mind set to contributing our best to the maximization of personal potentials and skills toward optimizing productivity and achieving organisational goals.
for more information click RELIANCE TRAINING AND MANAGEMENT CONSULTING
No need to visit Tonygists just use the android application click for more info Tonygists android application
Visit some of the website built by tonygists
1. south south penpushers : south south pen pushers
2. kingdom builders : Kingdom builders
Tonygists bro: honest zone
Are You On youtube? subscribe to Hot GIST Channel Latest Updates - @Hot Gist
Are You On youtube? subscribe to Gospel World (which is also owned by Tony Gists) youtube Channel Latest Updates - @Gospel world
Are you on audio mack? Follow Tonygists on audio mack to listen and download to the latest Mfm sermons Latest Updates - @Tonygists
Follow Tonygists on LinkedIn to get more jobs opportunities Latest Updates - @Tonygists
Are You On youtube? subscribe to Honest Ose Channel Latest Updates - @Honest Ose
Are You On youtube? subscribe to Honest Web Solutions Channel Latest Updates - @Honest Web Solutions
Are You On youtube? subscribe to Xtremely Honest Channel Latest Updates - @Xtremely Honest
Are You On Twitter? Follow Us Now For Latest Updates - @tonygists
Are You On FACEBOOK? Like Our Page For Latest Updates - tonygists
Are You On FACEBOOK? Join Our Group For Latest Updates And Interactions - TonyGists
© 2024 Tonygists | Portions are © 2024 Associated Press. All rights reserved. This material may be published, broadcast, rewritten, or distributed.
