Naira exchanges at N359 to dollar at parallel market

#TrackNigeria The naira on Monday traded at N358.6 to the dollar at the parallel market in Lagos.

The pound sterling and the euro closed at N445 and N396, respectively.

At the Bureau De Change (BDC) segment, the naira was sold at N358.6, while the pound sterling and the euro closed at N445 and N396, respectively.

Trading at the investors’ window saw the naira closing at N363.32 as market turnover stood at 477.04 million dollars.

The naira, however, traded at N306.95 to the dollar at the official CBN window.

The naira had remained stable at the parallel market, due largely to the interventions of the CBN.

As the rate stands, it appears the parallel market rate determines the prevailing rate for most buyers. (NAN

Naira closes at N362.57 to dollar at investors window

#TrackNigeria The naira on Monday traded at N362.57 to the dollar at the parallel market in Lagos.

Turnover at the window stood at 293.60 million dollars.

The currency was N359 to dollar at the parallel market in Lagos, while it was exchanged at N445 and N397 to the pound sterling and Euro, respectively.

At the Bureau De Change (BDC) window, the naira closed at N359 to the dollar, while it was N445 and N397 to the pound sterling and Euro,  respectively.

The naira had remained stable at the parallel market in Lagos due largely to the interventions of the CBN.

Meanwhile, turnover at the investors window at the end of July rose from 2.9 billion dollars in June to 4.12 billion dollars in July. (NAN)

Retail SMIS: CBN injects $284.2m, CNY36m

#TrackNigeria: The Central Bank of Nigeria (CBN), has injected $284.2 million in the retail Secondary Market Intervention Sales (SMIS).

The inter-bank foreign exchange market is in addition to CNY36.0 million in the spot and short-tenured forwards segment of the inter-bank foreign market.

Disclosing this in Abuja on Friday, July 26, 2019, the Bank’s Director, Corporate Communications Department, Isaac Okorafor said that the United States dollars-denominated transactions were to meet requests in the agricultural and raw materials sectors, while those in Chinese Yuan were for Renminbi-denominated Letters of Credit.

Okorafor further noted that the Bank was satisfied with the continued stability in the foreign exchange market and assured that the CBN would remain committed to ensuring that all the sectors of the forex market continue to enjoy access to the needed foreign exchange.

It will be recalled that the CBN at the last round of sales, on Tuesday, July 23, 2019, intervened in the inter-bank sector of the Foreign Exchange market with the sum of $210 million.

Meanwhile, a dollar exchanged for N357 while CNY1 exchanged at N46, at the Bureau de Change (BDC) segment of the foreign exchange market on Friday, July 26, 2019.

Naira gains marginally against dollar at parallel market

The Naira on Monday gained 50 Kobo to trade at N358.5 to the dollar at the parallel market in Lagos, slightly stronger than N359 traded on Friday.

The Pound Sterling and the Euro closed at N458 and N403 respectively.

The naira traded at N360 to the dollar at the Bureau De Change (BDC) segment, while the Pound Sterling and the Euro exchanged at N458 and N403, respectively.

Trading at the investors window saw the naira closing at N361.48 to the dollar as market turnover stood at 231.92 million dollars.

The News Agency of Nigeria (NAN) reports that the naira had been relatively stable at the parallel market due largely to the interventions of the CBN.

Activities at the market, however, remained slow on Monday as traders await the outcome of the Monetary Policy Committee (MPC) meeting of the CBN.(NAN)

Naira gains marginally against dollar at parallel market

#TrackNigeria The Naira on Thursday gained marginally to the dollar at the parallel market in Lagos, exchanging at N358.5 to the dollar.

The Pound Sterling and the Euro closed at N462 and N407, respectively.

At the Bureau De Change (BDC) segment, the naira was sold at N360 to the dollar while the Pound Sterling and the Euro traded at N463 and N407, respectively.

Trading at the investors’  window saw the naira closing at N361.62 to the dollar as market turnover stood at $279.72 million.

The Central Bank of Nigeria (CBN) has continued with its interventions at the foreign exchange market aimed at greater stability of the naira.

The Apex bank had on Tuesday injected 210 million dollars to the market.

The sum was shared among authorised dealers, SMEs and for invisibles such as travelling allowances. (NAN)