Skip to main content

Exchange Rate Now 282 To Dollar


The naira springs up to N282.5 against the dollar on Wednesday, June 22, from N284 it closed on Tuesday, June 21 following the injection of dollar by the Central Bank of Nigeria, CBN.
The local currency surged by 0.7 per cent yesterday to 282.5 per dollar, after earlier shedding as much as 0.5 per cent following market adjustments to the new forex policy released by the apex bank.
The CBN sold dollars onto the interbank forex market for a third day to ease dollar shortages after it floated the currency. The regulator has intervened in the market by selling forex since it ended the currency’s 16-month fix of 197 to 199 per dollar on Monday.
It sold $4 billion in the spot and forwards markets that day to clear a backlog of demand for hard currency, and followed that with about $100 million of sales on the spot market on Tuesday.
Forward contracts dropped as traders reduced their bets on how much further the naira will weaken, although they still see it dropping 6.5 percent by late September.
Three-month naira non-deliverable forward contracts fell 4.7 per cent, the most on a closing basis since May 17, to N302.25 per dollar....
Follow us on twitter and facebook for more update...
Labels:

Comments

Post a Comment

Popular posts from this blog

Shipwreck Survivors Haunted B Cries of Kids

It was the cries of children - and the moment they decided they must save themselves - that haunt the survivors of a shipwreck that claimed hundreds of lives. Two Eritreans who arrived safely in Sicily told The Associated Press on Sunday how the sea kept seeping into their rickety fishing boat despite all efforts to bail the water out. Eventually, the sea prevailed. Between 400 and 550 on their smugglers' boat didn't make it, part of the estimated 700 migrants who perished in Mediterranean Sea shipwrecks over three days last week in the deadliest known tally in over a year, as calm weather and sunny skies increased smuggling crossings from Libya. "When the morning came, I saw how the children were crying and the women," Habtom Tekle, a 27-year-old Eritrean, told the AP through an interpreter. "At this point I only tried to pray. Everybody was trying to take the water out of boat." The rickety wooden boat without an engine was being towed by another smug...
Post a Comment
Read more

BIRTHDAY WISHES

As u celebrate ur birthday 2day, may God guide nd protect u from the sight of the evil ones, u will live to celebrate many more years.... HBD MEGA GODWIN
5 comments
Read more

HURRAY.......Nigeria Polio Free

Nigeria has been free of  polio  for an entire year, thanks to an aggressive vaccination policy supported by the Gates Foundation. The world’s biggest philanthropic organisation has dedicated itself to eradicating polio by 2018, and CEO Dr Sue Hellman says Pakistan and Afghanistan are now the “last frontiers” in this process. In 2014, India, a polio hotspot five years ago, declared itself polio-free prompting Bill Gates to describe this as “the greatest global health achievement I have ever witnessed”.  “Eradicating polio will mean that we have wiped out one of humanity’s oldest scourges,” Hellman told a group of African journalists on the eve of the release of her  annual letter , reflecting on the foundation’s work. The Gates Foundation supports vaccination campaigns worldwide and by last year, it estimated that the lives of seven million children had been saved as a result of expanded access to vaccines. The foundation is also heavily invested in the search ...
Post a Comment
Read more