Naira appreciates to N374/$

http://ift.tt/eA8V8J

By Babajide Komolafe
The naira Thursday appreciated to N374 per dollar in the parallel market due to weak demand for dollars.

Vanguard survey revealed that the parallel market exchange rate dropped from N375 per dollar on Wednesday to N374 per dollar at the close of business yesterday.

Parallel market operators attributed the appreciation to weak demand for dollars which occasioned dollar glut in the market.  Investigations revealed that the dollar glut was occasioned by the long holiday and the regular sale of dollars to bureaux de change (BDCs) by the Central Bank of Nigeria (CBN). The apex bank since April has been selling $40,000 to each of the over 3000 BDCs in the country.

 

 

The post Naira appreciates to N374/$ appeared first on Vanguard News.

Vía Vanguard News http://ift.tt/2rgJdha


Comments

Post a Comment

Popular posts from this blog

Untapped treasure of the treasure base of Nigeria

Image
http://ift.tt/eA8V8J By Prince Kabari R IVERS State, the treasure base of the nation, is celebrated its Golden Jubilee at a time when Governor Nyesom Wike is turning the State into projects site of some sort in unmistakable demonstration that even now is no time to think of what you do not have but to think of what you can do with what there is. The plethora of quintessential projects including construction of Jetties, roads, bridges, edifices, parks and gardens, amongst others, which take in hand infrastructure gaps to accelerate economic growth, has no doubt earned him the people’s title “Mr. Projects.” There is no gainsaying that such imposing feat is indeed brave and adventurous especially against the backdrop of continuing dwindling Federal Accounts Allocation to the State. More so is the fact that the immediate past Governor of the State, Mr. Chibuike Amaechi, had tactlessly disclosed at a thanksgiving service held by the Greater Together Campaign Organisation in Port Harcour...
Read more

Avoid being wasteful

Image
http://ift.tt/eA8V8J RAMADAN should be a time to avoid being wasteful. Some Muslims are unable to distinguish between their needs and luxuries, hence they engage in wasteful spending. Some, at the end of each fasting day, pile-up varieties of food that they cannot consume thereby spending more on what they do not need. If you have more, remember the have-nots. The act of giving is ibadah , and no act of ibadah can be said to be too much. Some sleep through the whole night with the alibi that they had a hectic day. Some even find it easy to compromise their sahur for more hours of sleep. Ramadan is a time we have to increase all our spiritual devotion, the day and night should be a beehive of spiritual activities. Like I said some few days ago, at the moment, if you visit some mosques during tarawih prayers, you will notice a drop. We should rather step up activities because it will take another 12 circle of the moon before we witness another Ramadan. So, we need to maximise the pe...
Read more

Cross River renames Green Police, set to prosecute environmental offenders

Image
http://ift.tt/2op41Pm Cross River State governor, Senator Ben Ayade Faced with stiff opposition from law enforcement officers on the introduction of environmental guards, Cross River State Government has renamed the state’s non-armed bearing outfit, the Green Police to Green Sheriff. Governor Ben Ayade also urged residents of the state to ensure cleanliness and sustain greenery initiative or face prosecution. Ayade noted that the new outfit “Green Sheriff” must serve as an environmental neighborhood watch by ensuring that every resident of the state and Calabar in particular keeps his or her environment very clean.” He explained that “the Green Sheriff’s responsibilities will include general sanitation check, nursing and planting of trees, ensuring that refuse bins are evacuated as and when due, report erring wastes evacuation contractors as well as arrest persons who litter the environment.” Other roles the governor enumerated were to stop deforestation, afforestation supervis...
Read more