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

HOW TO BUILD YOUR POLITICAL EMPIRE

Politics have become a gold mine in Nigeria today. Once you're into any political office, be it a commissioner or a local government chairman, you should be seeing enough money to keep you very comfortable.  Be that as ut may, political career takes time to build and more especially, the right connection and network of people.  Starting your political career in Nigeria will require you to have passion and be interested in all the political activities in you community. Nowadays, not only the big boys do politics, ladies and women have also taken the stage in political offices. So don't worry about your gender, the political offices is for both gender. But you will have to earn it by struggle. In this article, I will widen your knowledge on how you can become a successful politician in Nigeria and also make you wards successful through the same field. Start Early To play the game of politics, you will need the experience you've gotten from secondary schools to university. Vye...
Post a Comment
Read more

Female Motor Mechanic In Abuja

Photos/Video: Meet Blessing, a young female mechanic in Abuja Ocheni Raymond Oche shared this post about a young female mechanic he met yesterday at Conoil filling station, along airport road, after Federal Housing Lugb, Abuja. His post, video and photos, below: "DISCOURAGE PROSTITUTION AND OTHER NON CREDIBLE BUSINESSES WOMEN DO, ENCOURAGE HARDWORK AND DETERMINATION!!! Today I met Blessing (A MECHANIC), and I was touched, by the fact that a secondary school graduate who had no hope to further school sought to learn mechanic for 4 years and is on her own now, a life better than anything else that's depicts high level of immorality. As can be seen , she is changing shocks for a Toyota Camry (muscle), and I tell you its not beans! Please share this till someone in position or our churches or mosques finds this touching enough to help establish her and promote what she does and encourages other women and youth. I salute your person BLESSING. PLS TAKE TIME TO LISTEN ...
Post a Comment
Read more