Monday, March 20, 2017
MARKET UPDATE
MARCH 16, 2017NIGERIA STOCK EXCHANGE (Market Closed) SUMMARY: All Share Index 25,418.08 Deals 2,468.00 Volume 280,945,416.00 Value 2,349,419,384.30Market Cap 8,796,717,470,596.41TOP GAINERS NB 133.84 (3.14) FO 48.93 (1.12) GUARANTY 25.8 (0.45) ZENITHBANK 14.55 (0.4) FLOURMILL 17.85 (0.35) TOP LOSERS 7UP 77.71 (-8.29) TOTAL 274.55 (-5.45) ASHAKACEM 9.5 (-0.5) DANGCEM 160 (-0.5) UACN 14 (-0.25) CBN EXCHANGE RATE(NGN)Buying:$USD 305.75 GBP 377.2344 EURO 327.9169 SWISS FRANC 302.715 YEN 2.695 Selling:$USD 306.75 £GBP 378.4682 EURO 328.9894 SWISS FRANC 303.7059 YEN 2.7038 CNBC COMMODITY PRICES (USD)Crude Oil (Bonny light) 51.15 Natural Gas 2.904 (-0.077) Gold 1226.10 (25.40) Silver 17.30 (0.377) Copper 2.679 (0.0225) Wheat 435.50 (-0.50) Coffee 141.55 (0.65) Cotton 78.05 (-0.03) Cocoa 2035.00 (-13.00)
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Naira appreciates to 445 as CBN pumps fresh $180m

Naira appreciates to 445 as CBN pumps fresh $180m
March 20
19:52 2017
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The Nigerian naira appreciated to 445 per dollar on Monday, as the Central Bank of Nigeria (CBN) pumped a total of $180 million into the foreign exchange market.

The fresh input was to meet bids for wholesale auction and requests for invisibles, such as medicals, school fees and personal travel allowances valued at $80 million, through the inter-bank window.

Confirming the figures, Isaac Okorafor, the acting director, corporate communications department, CBN, said the wholesale requests will be settled on Tuesday, March 21, 2017.

The naira is expected to gain more grounds against the dollar for in the foreign exchange market for the days to come.

While disclosing that the bank had so far met all the legitimate demands from genuine customers, Okorafor reiterated said the CBN would ensure sustainable forex liquidity and transparency in the process to enable as many customers as possible get access to the foreign exchange they genuinely demand.

He therefore advised eligible individuals with genuine foreign currency needs to freely approach their banks and authorised dealers with their request.

Okorafor further advised legitimate customers to approach the CBN with their complaints should they be unfairly denied access.

The pound went for N530 while the euro traded at N465 at the parallel market.

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Copyright 2017 TheCable. Permission to use quotations from this article is granted subject to appropriate credit being given to www.thecable.ng as the source.
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Exchange Rates

March 20, 2017USDGBPEUR
INTERBANK316.00392.15339.92
LAGOS449535470
KANO450545470
PH454547480
ABUJA450540472
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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