Latest Naira exchange rate against Dollars and Pounds on the parallel, BDC and CBN black market

CBN Auctions $418 Million To Boost Forex Liquidity

The Central Bank of Nigeria, CBN, has auctioned $418 million at a marginal rate of N310 to a dollar, to airlines, agriculture, petroleum and raw materials sub sectors.

 

The CBN acting Director, Corporate Communications, Isaac Okorafor. said in Abuja that the $480 million offered last week was in addition to the $350 million sold as wholesale auction for travel allowance and school fees at the same period.

He said that in the weeks ahead, …

06/04/2017 – Naira Exchange Rate

DollarsPoundsEuro
Buy/Sell
CBN
Buy/Sell
CBN
Buy/Sell
CBN
390/398
305.2/306.2
470/485
380.7/381.9
400/415
325.2/326.8
387/397
305.2/306.2
475/485
380.7/381.9
410/420
325.2/326.8
--/--
305.2/306.2
--/--
380.7/381.9
--/--
325.2/326.8
Official BDC and CBN exchange rate for Naira against Dollar, Pounds and Euro for 06/04/2017.

Naira Is Currently 10 – 20% Overvalued By CBN – IMF

The International Monetary Fund (IMF) has said that the Nigerian Naira is overvalued by about 10% to 20%.

Gene Leon, who is IMF’s mission chief for Nigeria, stated this during a news briefing in Washington on Wednesday. He also said the Nigerian government, has acknowledged the the need for reforms and must implement them.

Nigerian Naira

“The Nigerian economy has been hit by lower oil prices and lower production and the need for adjustment is recognised by the government,” Leon …

CBN injects additional $31m into BDC as Naira falls to N395

AGOS—The Central bank of Nigeria (CBN) Wednesday, intervened in the bureau de change (BDC) segment by selling additional $31.3 million or $10,000 to 3,135 BDCs, even as the naira depreciated to N395 per dollar in the parallel market.

Meanwhile, the nation’s external reserve rose by $21 million to $30.32 billion on Tuesday from $30.297 billion at the end of last month.

Commenting on the additional dollar sales to BDCs, Acting Director, Corporate Communication Department, CBN, Mr. Isaac Okoroafor, said the …

CBN injects $240 million into forex ($150 To BDC, $90 To FOREX)

$240 million has been injected  into the country’s foreign exchange by the  has been injectedinto the nation’s foreign exchange market by the Central Bank of Nigeria (CBN), Monday, to sustain Naira’s gains against the Dollar and other hard currencies.
Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele said that, $90 million was to meet requests for invisibles such as BTA/PTA, medical and school fees. The balance of $150 million was given to authorized FOREX dealers in the interbank wholesale …

03/04/2017 – Naira Exchange Rate

DollarsPoundsEuro
Buy/Sell
CBN
Buy/Sell
CBN
Buy/Sell
CBN
377 / 383
305.3/306.3
470 / 478
381.2/382.5
400 / 420
326.2/327.3
380 / 390
305.3/306.3
470 / 480
381.2/382.5
410 / 415
326.2/327.3
380 / 390
305.3/306.3
470 / 480
381.2/382.5
410 / 415
326.2/327.3
Official BDC and CBN exchange rate for Naira against Dollar, Pounds and Euro for 03/04/2017

UK MTO Exchange Rates – 03/04/2017

 AMMDPM
RIA--.----.----.--
Western Union440.68440.68440.68
Moneygram443.26443.26443.26
WorldRemit445.00445.00445.00
Sigue--.----.----.--
SmallWorldFs440.99440.99440.99
DT&T442.00442.00442.00
Azimo440.32440.32440.32
Other UK Rates455455455
Pounds to Naira excchange rate for Money Transfer Operators In UK - Today, 03/04/2017

CBN sells $1bln to help clear backlog in biggest dollar sale since June

Nigeria’s Central Bank sold about $1 billion on the forward market last week to clear a backlog of dollar obligations in selected sectors, traders said on Thursday, its largest special auction since a currency peg was removed in June.

 

A bureau de change operator counts U.S. currency notes in Abuja, March 12, 2015. REUTERS/Afolabi Sotunde

Outstanding dollar demand was about $4 billion before June, when the 16-month-old peg was removed. Efforts to cut dollar demand have been largely unsuccessful