Naira’ll appreciate to 490/$1 at parallel market – Rewane - Punch Newspapers

The naira will appreciated in the parallel market towards 490-495 against the dollar in August/September after hitting a record low following the stoppage of foreign exchange supply to Bureaux de Change, the Managing Director of Financial Derivatives Company Limited, Mr Bismarck Rewane, has said.

The naira had plunged to 525/$ at the parallel market on July 29, a day after the Central Bank of Nigeria stopped forex sales to BDCs. It closed at 510/$ on Monday. “Gross external reserves will get a bump from the SDR facility. Naira will appreciate in the parallel market towards N490-495/$,” he said while highlighting the outlook for August/September.The external reserves rose to $33.56bn as of August 6 from $33.40bn at the end of July, according to CBN data.

“The CBN will increase forex supply especially to airlines and invisibles. Interbank interest rates will climb back up to 15-20 per cent range. AS CRR, other debits squeeze liquidity in the system, investors will remain tentative until signs of policy stability become manifest,” he said.

the so called Nigeria economists are complicating simple demand and supply theory. you dont expect the currency to fall back in an importing economy. demanded for dollars along with limited supply will push dollars up. export economy is what Nigeria needs.

Clap for urself

Idiots set of people,is this good news or what?

ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว

Similar News:คุณยังสามารถอ่านข่าวที่คล้ายกันนี้ซึ่งเรารวบรวมจากแหล่งข่าวอื่น ๆ ได้

Police arrest sick woman’s son in market, label him IPOB/ESN operative - Punch NewspapersThe most widely read newspaper in Nigeria You arrest people parade and put their pictures online as criminals, then start the investigation to figure out if they are innocent? The dumbness is outstanding! Whether you are writing NECO Exam. or not, EVERY_MONDAY in BIAFRA LAND must remain like this picture until MaziNnamdiKanu is RELEASED UNCONDITIONALLY FreeMaziNnamdiKanuNow After sending fake news if 5 days and now u come to report...keep deceiving urself
แหล่ง: MobilePunch - 🏆 8. / 63 อ่านเพิ่มเติม »

Gwagwalada traders decry indiscriminate Indian hemp smoking in market - Punch NewspapersThe most widely read newspaper in Nigeria Unfortunately Authorities are part of it, so who's gonna arrest who? But EFCC AND NDLA head by northeners are busting hotels and imprisoned youth without trials in southern part of the country. Lol, kasuandere traders you mean?
แหล่ง: MobilePunch - 🏆 8. / 63 อ่านเพิ่มเติม »