#NAFEM

[eventtimeltd]

3D Exhibition stall design and Fair Stall fabrication Company Dhaka Bangladesh. Best Exhibition stall design and Fair Stall fabrication Company Dhaka Bangladesh. Exhibition stall company of bangladesh. Exhibition stall company registration in Bangladesh. Exhibition stall. fair stall. stall. exhibition. trade shows. exhibit. biennale. body worlds. sial paris 2022. art exhibition. conexpo 2023. pack expo 2022. archibald prize 2022. the art of the brick. anuga. art shows near me. bodies exhibit. ngv picasso. whitney biennial 2022. booth design. the world of banksy. picasso ngv. basquiat exhibit. mori art museum. frieze art fair. k show 2022. whitney biennial. pack expo. consumer electronics show. anuga 2023. banksy exhibit. gustav klimt gold in motion. guo pei legion of honor. new art. archibald prize. art show. national gallery exhibitions. expo east. trade show displays. exhibition design. expo east 2022. fancy food show 2022. doraemon exhibition. outdoor retailer. ramses the great and the gold of the pharaohs. raphael national gallery. fancy food show. african american art. lucian freud national gallery. armory show. cezanne exhibition. studio ghibli exhibit. ramses de young. florine stettheimer. magic las vegas. chanel exhibition. vision expo east 2022. kaws museum. v and a exhibitions. body museum. metropolitan museum of art exhibitions. exhibition booth. tyama melbourne museum. happy go lucky exhibit. trade show booth. fashion museum. plma 2022. degenerate art. virgil abloh figures of speech. armory show 2022. aot exhibition. matisse exhibition. human body museum. exhibition road. consumer electronics show 2023. lume exhibition. banksy museum. legion of honor guo pei. outdoor retailer 2022. virtual art gallery. photography exhibition. nafem 2023. peter voulkos. miyazaki exhibit. trade fairs. art expo. cosi marvel exhibit. raqib shaw. fancy food show 2023. photo exhibition. pack expo 2023. cressida campbell exhibition. virtual exhibition. vision expo east 2023. outdoor retailer 2023. exhibition stall design. asd market week. art now. summer fancy food show 2022. licensing expo. louise bourgeois hayward gallery. packexpo. global pet expo 2022. kapwani kiwanga. world travel market 2022. body worlds museum. raphael exhibition. nuremberg toy fair 2023. early works. kochi biennale 2023. itb asia. minecraft exhibit. ngv alexander mcqueen. the family of man. klimt exhibition. licensing expo 2022. the museum at fit. picasso sculpture. sculpture center. biennale 2023. trade shows near me. lego exhibition. michelangelo's sistine chapel the exhibition. alexander mcqueen savage beauty. trade show booth design. iaapa expo. tyama exhibition. winter fancy food show 2023. exhibition booth design. tutankhamun exhibition. We Provide Every Where Our Services In Bangladesh. Make Your Dream To Bring Our Touch We would love to be the venue for your special day. Call or email us today for more information! All Event Solution In One Platform For More Details: 01844 542 491 : 01844-542498 Visit our Website: www.eventtimebd.com E-mail: eventtimeltd@gmail.com Visit us directly or make a booking over the phone today. Office Address: 04-B/A, (2nd Floor), Mazar Road, Mirpur, Bangladesh, 1216 To visit our Facebook page: https://www.facebook.com/eventtime20 Terms & Conditions: Deduction of any item from the package will reduce the price. Artificial flowers will be used but you can exchange them for real flowers. The package price will increase. Package prices may vary slightly due to stage size, shape and location. Any extra cost charged by the venue/hall is not included in the package With Love Team 𝗘𝗩𝗘𝗡𝗧 𝗧𝗜𝗠𝗘 Stay safe

exhibitionstall #exhibition #expo #stalldesigning #eventmanagement #graphicdesign #events #corporateevents #marketing #advertising #digitalmarketingagency #weddingplanning #digitalmarketing #googleads #webdesign #adoholics #seo #sem #smm #socialmediamarketing #digitalmedia #ppc #googleadwords #digitalmediamarketing #facebookads #coronavirus #covid #exhibitionbooth #stalldesign #mumbai

[ejesgistnews]

Dollar to Naira Exchange Rate Today: Black Market and CBN Rates – Tuesday, November 5, 2024 For Nigerians involved in trade, travel, or investment, keeping up with the latest Dollar to Naira exchange rates is essential. This article provides the current exchange rate for USD to NGN in both the black market and the official Central Bank of Nigeria (CBN) channels, along with insights into rate fluctuations and alternative platforms for currency exchange. Dollar to Naira Black Market Rate Today In the black market, the Dollar to Naira exchange rate often reflects real-time demand and supply, making it an essential metric for those outside formal banking channels. As of today: Buying Rate: ₦1,735 Selling Rate: ₦1,740 CBN Official Dollar to Naira Exchange Rate The official rate from the CBN is typically lower than the black market rate but is limited to certain types of transactions, such as government-approved imports and formal business operations. The official exchange rate today is: Buying Rate: ₦1,658 Selling Rate: ₦1,660 Alternative Platforms for Dollar to Naira Exchange Rates Several online platforms, including Geegpay and Grey, also offer competitive exchange rates and serve as trusted alternatives to the traditional black market: Geegpay Rates: USD: Buying at ₦1,750, Selling at ₦1,757 GBP: Buying at ₦2,120, Selling at ₦2,127 EUR: Buying at ₦1,798.03, Selling at ₦1,800.55 Grey Exchange Rates: USD: Buying at ₦1,750, Selling at ₦1,755 GBP: Buying at ₦2,102, Selling at ₦2,205 EUR: Buying at ₦1,845.03, Selling at ₦1,850 These platforms are regulated and widely used in Nigeria, providing reliable access to foreign exchange without the volatility often seen in the black market. Dollar to Naira Exchange Rate Yesterday As a reference, the black market rate on Sunday, November 3, 2024, closed at: ₦1,730 per USD, slightly lower than today’s rate, reflecting a minor increase in Naira value over recent days. Historical Context: Rising Dollar to Naira Exchange Rate Over the past year, the Dollar to Naira exchange rate has experienced considerable volatility. In October 2023, the black market rate was approximately ₦900 per dollar. Since then, it has nearly doubled, driven by a combination of factors such as inflation, global oil price fluctuations, and foreign currency supply issues in Nigeria. Why Nigerians Use the Black Market for Dollar Exchange The black market, or parallel market, allows for easier access to foreign currency without government-imposed restrictions. Major reasons include: Favorable Rates: Higher exchange rates often mean more Naira for each Dollar exchanged. Accessibility: It is often simpler to access dollars in the black market than through formal banks, which may limit availability. Key Updates on Forex in Nigeria (November 5, 2024) Here are the key updates on Forex in Nigeria as of November 5, 2024: Forex Turnover Increase: The turnover in the Nigerian Foreign Exchange Market (NAFEM) rose by 63% to $5.4 billion in October, up from $3.31 billion in September. Naira Depreciation: The naira depreciated across all market segments in October. In the official market, it fell by 8.6% to N1,675.49 per dollar from N1,541.94 per dollar in September. In the parallel market, it depreciated to N1,730 per dollar from N1,705 per dollar. Government Policy on Dollar Accounts: The Federal Government has introduced a new policy allowing Nigerians to bring dollars held outside the formal banking system into the financial system without legal penalties. This policy includes a nine-month grace period for compliance. Exchange Rate Projections: Analysts project that the exchange rate will trade within the band of N1,500 to N1,700 per dollar in Q4 2024, depending on the interplay between demand for foreign exchange and supply facilitated by the Central Bank of Nigeria. Understanding the Difference Between Black Market and CBN Rates The black market rate generally

runs higher than the CBN rate due to limited official access to dollars, which drives up demand in the parallel market. The CBN rate is regulated, targeting approved business transactions and some personal remittances. FAQs on Dollar to Naira Exchange Rates Why is there a difference between CBN and black market rates? The black market reflects real-time demand and supply fluctuations, whereas the CBN rate is regulated to control exchange for approved uses. Can everyone use the CBN rate? No, CBN rates are primarily available for government-approved imports and transactions. Many individuals rely on the black market for convenience and access. Are Geegpay and Grey safe platforms for exchange? Yes, both platforms are well-regulated, providing secure, competitive rates for exchanging foreign currency. Will the Naira stabilize in the future? Future trends depend on economic policies, oil prices, and global market conditions, with currency stability reliant on these factors. Conclusion on Dollar to Naira Exchange Rate Today. Staying updated on the Dollar to Naira exchange rate is essential for business, travel, and investment decisions. Regularly checking black market and CBN rates, as well as online exchange platforms like Geegpay and Grey, can help you make informed decisions in Nigeria’s dynamic forex environment

[smlblogtv]

Concerns As Naira Continues Fall Against US Dollar, Hits ₦1,740/$1 In Parallel Market

Experts have expressed concern as Nigeria’s currency, the Naira, continues its depreciation trend, with the exchange rate hitting ₦1,740/$1 in the parallel market after trading last weekend. Naija News reports that the Naira exhibited stability with slight appreciation in the Nigerian Autonomous Foreign Exchange Market (NAFEM), as market participants speculate that the Central Bank of Nigeria…

[mynewshq]

Naira depreciates to N1,660 in parallel market, as scarcity hits dealers

Nigeria’s foreign exchange (Forex) market has come under fresh pressure as scarcity worsens. Consequently, demand pressures which has been building up since August have compelled huge depreciation of the Naira to N1,660 per dollar in the parallel market. The market had closed high last weekend at N1,645 per dollar, significantly above the N1,625 it closed the previous week. Dealers who spoke to Vanguard yesterday attributed the depreciation to the slowdown in the volume of forex that has been coming into the parallel segment of the market since last month. Vanguard findings also revealed that there has been significant declines in the volume of forex supply at the official segment of the market. The volume of dollars traded (turnover) in the market yesterday declined by 22 percent to $197.37 million from $254.17 million traded last weekend. However, the Naira appreciated to N1,580.46 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1580.46 per dollar from N1,593.32      per dollar last weekend , indicating N12.86 appreciation for the naira.   Consequently, the margin between the parallel market and NAFEM rate widened to N79.54 per dollar from N51.68 kobo per dollar last week Friday. Read the full article

[lagmennet]

Naira stable at N1,535/$ in parallel market

The Naira yesterday was stable at N1,535 per dollar in the parallel market.However, the Naira depreciated to N1,532.58 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,532.58 per dollar from N1,523.85 per dollar on Monday, indicating N8.73 depreciation for the naira.

[vexxwraith]

† 𝔘𝔫𝔯𝔞𝔳𝔢𝔩 †

⛧ genetics, hair, mods ⛧

⤿Ebody - Reborn - available at mainstore

⤿Lelutka - Raven head 3.1 - available at mainstore

⤿Velour-Venus Halloween - available at Mainstore

⤿Guapa - Felicity skin - available at Mainstore

⤿Bloodeffigy - Nocturnal eyes - available at mainstore

⤿Doux - Destiny hair - available at K9

⛧ cosmetics ⛧

⤿SU - Anastasia eyeshadow/lipstick - available at Sabbath

⤿Macabra - Besties tattoo - available at Gothcore

⤿Lilithe - Bormana tattoo - available at TWS

⤿Lilithe - Gontia tattoo - available at TWS

⤿darkmoon - mood kill lashes - available at Anthology

⛧ outfit ⛧

⤿Cynful - dizzy you up blouse/skirt

⤿Praga - Nafem w/ socks - available at Sabbath

⛧ accessories ⛧

⤿Badwolf - Multitudo earrings - available at Sabbath

⤿Ukiyo - rei necklace - available at mainstore

⤿BL - Miley rings - available at Mainstore

⤿Cubic Cherry - Candy demon tail

[wushigod]

Dollar supply in the official foreign exchange market reached a substantial sum of $7.3bn in the months of March and April, findings by The PUNCH have shown. This is as the naira rebounded against the United States dollar to N1,390 per dollar at the official market and steadied at 1,340/$ at the parallel market, popularly called the black market on Monday. According to data sourced from the FMDQ Security Exchange, forex sales data showed that there was improved liquidity in the market as $4.7bn transaction was sold in March. However, FX sales reduced by 51 per cent month-on-month to $2.5bn coinciding with the observed naira depreciation in April. Bureau De Change operators at Wuse Zone 4 said they bought at N1,310 and sold at N1,340 leaving a profit margin of N30. This means the rate remained at the amount quoted on Monday. Malam Yahu, a trader said, “The naira remained as it was on Monday, trading at N1,340. We buy at N1, 310 and our profit is just N30. Nothing really caused the stagnant rate. That’s just how the market went today. We wait to see what tomorrow and next.” At the official market known as the Nigerian Autonomous Foreign Exchange Market, the naira appreciated by N29 or 2.1 per cent to N1,390 per dollar, from N1,419 per dollar recorded on Monday, the lowest since March 13, 2024. The naira had depreciated following slowing inflows occasioned by the withdrawal of funds by Foreign Portfolio Investment. The intraday high closed at N1,450 on Tuesday from N1,451 per dollar on Monday. The intraday low also depreciated to N1,200 on Tuesday as against N1,060 on Monday and closed on Friday at NAFEM, data from the FMDQ Securities Exchange indicated. Dollars supplied by willing buyers and willing sellers appreciated by 34.4 per cent or $77.53m to $225.36m from $147.83m recorded on Monday. Governor of the Central Bank of Nigeria, Olayemi Cardoso, at various fora had emphasised the critical need to attract inflows to maintain liquidity in the foreign exchange market and stabilise the exchange rate. He emphasised the importance of managing exchange rates to address inflationary pressures and ensure both price stability and sustained long-term economic growth. “Failure to tame inflationary pressure using the exchange rate channel may jeopardize not only price stability but also long-term growth.”

[gidd-blog1]

JUST IN: Again, Naira Crashes at the Official Market

The Nigerian currency Naira on Tuesday depreciated at the official market, trading at N1,300.15 to the dollar yet again. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the Naira lost N65.66. This represents a 5.3 per cent loss when compared to the previous trading date on Monday, April…

[444namesplus]

Ba Bal Be Begṛm Belṛn Bem Bi Bihin Bikpan Biẓe Bonfṛl Bul Bunhi Bw Bwmbu Bṛjw Bṛso Cha Chadem Che Chel Chennal Cheẓim Chi Chiten Chol Chu Chul Chuldjem Chwn Chwṣun Chṛ Chṛkpw Chṛne Da Dam Daẓu De Del Delksṛl Demdṛ Demto Devan Dilmen Dino Ditel Dja Djam Dji Djikpo Djiksṛl Djildjem Djohw Djol Djolfṛ Djolhen Djom Djul Djunti Djw Djwmdw Djwmnu Djṛ Djṛn Dolmum Dontwm Dumvil Dw Dwdja Dwn Dṛ Dṛson Fan Fanpwl Fe Fegbun Fel Femlu Femson Fidwl Fimi Fiṣwl Fo Foksel Folgon Fon Fwbw Fwkṛ Fwn Fṛl Fṛlṣṛl Gba Gbaltim Gbama Gbe Gbelo Gbi Gbim Gbin Gbo Gbu Gbumkul Gbṛ Ge Gimmil Golzu Gu Gul Gum Gunkpṛm Gw Gwngal Gṛ Gṛn Hamgw Hedu Hejem Hemchwn Henfom Henẓi Hi Hifṛ Him Hin Hivu Ho Hol Huhol Hulgel Hulru Hum Hw Hwkpil Hwl Hwvo Hwẓwl Hṛ Hṛnksin Jafal Jam Jamvo Janle Je Jebu Jelu Jentchim Jeẓṛ Ji Jokpu Jolzwn Jomtchṛn Jomvṛm Jonlu Jonṣo Ju Judṛ Julpul Jw Jwkpu Jṛ Jṛbṛ Jṛm Kan Koksu Kotchwm Kpalṣol Kpen Kpidu Kpikwl Kpil Kpimze Kpochun Kpozwn Kpu Kpukpṛn Kpum Kpun Kpuvṛm Kpw Kpwm Kpwn Kpṛ Kpṛl Kpṛlbil Kpṛlzo Kpṛm Kpṛndjam Kpṛnksa Ksa Ksalba Ksan Ksanti Ksanum Kse Ksega Ksemfum Ksetṛm Ksi Ksil Ksim Ksimko Ksintche Ksonnan Ksu Ksum Ksumtchu Kswchwl Kswl Ksṛ Ksṛmbo Ksṛn Ku Kul Kwdjum Kwkpin Kwnda Kwnlṛ Kṛndum La Lal Lan Le Lem Leẓen Limvo Linzṛ Lo Lom Lovam Lu Lulnṛ Lun Lunṣṛm Lutchum Luvo Lw Lwgbo Lṛ Lṛbo Lṛkem Lṛm Lṛnṣu Ma Mal Manbi Merṛ Mi Mil Mo Mollun Mu Mum Mw Mwlṛn Mwnge Mṛmpom Na Nafem Nase Natchil Natin Navw Nazu Ne Neme Nemti Niku Nitchu Nol Noljil Nomsa Nonsi Nu Nulgbun Nunsi Nwm Nwmvwn Nwnta Nṛ Nṛl Nṛlgim Nṛn Nṛtchi Nṛzim Pafi Pan Pilpim Po Polju Pon Pu Pum Puntwn Putcham Pwlum Pṛ Pṛl Pṛldjol Pṛm Pṛzw Ra Ralsul Re Rekw Reltṛ Reṣṛ Rilzel Rintchwl Riẓw Rovw Ru Rullon Rum Rwfṛ Rwndu Rṛjw Sedwm Sim So Solhṛl Soljen Sonṣṛ Sugbe Sul Suvo Swm Swn Sṛ Sṛpṛ Ta Taẓa Tcha Tche Tchekpun Tchem Tchemgwn Tchemram Tchinben Tcho Tcholdjwn Tchom Tchomru Tchon Tchonne Tchuku Tchum Tchun Tchutam Tchuẓu Tchw Tchwfa Tchwgil Tchwmgbo Tchwmksen Tchwnun Tchṛ Tchṛkol Tchṛm Tchṛsum Tehṛl Tem Tenbam Ti Timdjel To Tom Tomlwn Tul Twm Twtchen Twẓan Tṛmgil Tṛnpa Va Vam Vehi Vel Venven Veẓa Vim Virun Vo Vodjin Vol Vom Vovo Vu Vufu Vun Vw Vwkpu Vwntchul Vwtcha Za Zachel Zal Ze Zelchṛ Zem Zeẓam Zinchum Zitchṛ Zo Zolgul Zumkpin Zw Zwl Zwllw Zwlṛ Zwmnṛ Zwpem Zwzun Zṛ Ṣa Ṣalsel Ṣan Ṣaẓu Ṣekswn Ṣem Ṣemva Ṣenli Ṣi Ṣin Ṣoche Ṣom Ṣovel Ṣul Ṣumksa Ṣun Ṣunga Ṣupṛ Ṣw Ṣwdṛm Ṣwlbo Ṣwn Ṣṛl Ẓa Ẓanre Ẓegbun Ẓi Ẓin Ẓisel Ẓisi Ẓo Ẓonṛ Ẓul Ẓun Ẓunbi Ẓw Ẓwre Ẓṛjwm

[hardynwa]

JUST IN: CBN begins sales of dollars to BDCs

The Central Bank of Nigeria has announced its decision to sell foreign exchange worth $20,000 to each eligible Bureau De Change operator across the country. This is coming more than two years after the suspended former CBN governor, Godwin Emefiele, stopped the sales of foreign exchange to BDC operators in that segment of the forex market. The apex bank disclosed this in a new circular issued and signed by the Director, Trade and Exchange Department, Hassan Mahmud, on Tuesday. The circular titled, “Sale of Foreign Exchange to Bureau de Change Operators to meet retail demand for eligible invisible transactions” said the move aimed at rectifying the persisting distortions in the retail segment of Nigeria’s foreign exchange market and bridging the widening gap in the exchange rate. It said the allocation will be sold at a rate of N1,301/$, reflecting the lower band rate of executed spot transactions at the Nigerian Autonomous Foreign Exchange Market as of the previous trading day, dated February 27, 2024. The circular read, “Following the ongoing reforms in the foreign exchange market, aimed at achieving an appropriate market-determined exchange rate for the Naira, the Central Bank of Nigeria has observed the continued price distortions at the retail end of the market, which is feeding into the parallel market and further widening the exchange rate premium. “To this end, the CBN has approved the sale of foreign exchange to eligible Bureau De Change to meet the demand for invisible transactions. The sum of $20,000 is to be sold to each BDC at the rate of N1,301/$- (representing the lower band rate of executed spot transactions at NAFEM for the previous trading day, as of today, 27th February 2024). “All BDCs are allowed to sell to end-users at a margin NOT MORE THAN one per cent (1 per cent) above the purchase rate from CBN.” It further directed eligible BDCs to make Naira payments to the designated CBN Foreign Currency Deposit Naira Accounts and submit confirmation of payment, with other necessary documentation. “All eligible BDCs are directed to make the Naira payment to the designated CBN Foreign Currency Deposit Naira Accounts and submit confirmation of payment, with other necessary documentation, for disbursement at the appropriate CBN Branches ABUJA, AWKA, LAGOS and KANO,” it added. The CBN in frantic efforts to save the free fall of the naira has made a number of significant reforms towards addressing Naira depreciation, such as probing and clearing FX backlog, limiting forex for foreign education and medical tourism, increasing BDCs’ minimum share capital, and curbing FX speculators, among others. Details later… Read the full article

[ejesgistnews]

Naira Shows Mixed Performance: Depreciates to N1,730 in Parallel Market, Gains 3.03% in Official Market The Nigerian naira experienced a mixed performance on October 25, 2024, with a slight depreciation in the parallel market and a notable gain in the official market. The currency weakened by 0.12% against the US dollar, trading at N1,730/$1 in the parallel market—a marginal decline of N2 from the previous rate of N1,728. This marks the second consecutive day of depreciation following a 0.58% appreciation on October 23, when the naira was valued at N1,725/$1. Meanwhile, in the Investors and Exporters (I&E) window, the naira reversed a threeday depreciation streak, closing at N1,601.20/$1, a 3.30% improvement from the prior close of N1,654.09. Since October 15, the naira has consistently traded above the N1,600 threshold in the official market. The gap between the parallel market rate and the official rate has widened significantly, increasing to N128.80, up from the previous day’s difference of N73.91. Additionally, data from the Nigeria Association of Financial Markets Institutions (NAFEM) revealed a 69% surge in foreign exchange transactions, totalling $230.99 million, compared to $136.68 million previously. CBN Reserves and Policy Measures The Central Bank of Nigeria's (CBN) external reserves saw a 0.188% rise to $39.230 billion on October 22, 2024, marking the ninth consecutive day of growth. Recent CBN policies, including interest rate hikes aimed at curbing inflation and stabilising the economy, appear to be stabilising the domestic currency. The CBN has also cleared backlogs of foreign exchange obligations, including payments to airlines. Market Trends Throughout 2024, the naira has faced sustained depreciation, losing over 50% of its value since the beginning of the year in the official market. In January, the currency traded at N838.95/$1 and breached the N1,500/$1 mark in February. A brief rally in March saw it recover to N1,300.43/$1, before reaching a record low of N1,660.5/$1 in October. In the parallel market, the naira started the year at N1,215 per dollar, reaching an alltime low of N1,880 in February before recovering to N1,110 in April. However, it has since resumed a downward trajectory, recently dipping into the N1,700 range. Key Data Points On October 24, 2024, the naira traded as high as N1,696 per dollar and as low as N1,585.43/$1, reflecting a disparity of N110.57 before settling at N1,601.20 in the I&E window. By October 25, the naira traded at N1,730 per dollar in the parallel market, indicating a slight 0.12% decline from the previous day’s rate of N1,728. In the I&E window, the currency closed at N1,601.20/$1, demonstrating a 3.30% improvement from the prior close of N1,654.09. Trading volumes in the I&E window surged, reaching $230.99 million compared to $136.68 million the day before, highlighting increased market activity and dollar demand. Key Factors at Play During a recent press briefing at the ongoing World Bank/IMF meetings, the newly launched Global Financial Stability Report underscored signs of stability in the Nigerian naira, largely attributed to recent CBN policies. The International Monetary Fund (IMF) noted that the naira's steadiness results from actions taken by the CBN, including clearing the foreign exchange backlog and raising interest rates. The report indicated that these policy measures have led to positive developments, contributing to the naira's improved stability. What to Expect With the naira recently breaching the N1,700/$1 mark, there is potential for a shortterm recovery. Global oil prices have stabilised between $79 and $81 per barrel, and the CBN's consistent interventions may alleviate some inflationary pressures, fostering a more positive outlook for the naira. Additionally, new policies aimed at reducing foreign exchange demand could further support the currency, potentially bringing it back into the N1,600/$1 range in the near term. Notably, the official exchange rate closed at N1,601.

20 on October 25, following the CBN’s $60 million intervention in the official market on October 17, when dollars were sold to deposit banks at N1,540. Nevertheless, the naira's trajectory will remain closely tied to broader macroeconomic factors, including inflationary pressures and foreign currency supply. As Nigeria navigates these challenges, the effectiveness of policy responses will be crucial in determining whether the naira stabilises or faces further depreciation. Stay informed with Ejes Gist News – Your Source for Credible News in Nigeria Now.

[smlblogtv]

Naira Appreciates, But Dollar Turnover Drops 44%

Nigeria’s currency, the Naira, experienced a significant appreciation yesterday, gaining N10 against the US dollar in the parallel market to trade at N1,680 per dollar. Naija News reports that this marks a notable improvement from last weekend’s rate of N1,690 per dollar. In the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira also strengthened, reaching N1,552.92 per…

[speedyposts]

NAFEM Exchange rate falls to record low of N1348/$1

Naira on Monday fell to a record low of N1,348.63 per dollar following strong demand on the official market, also known as NAFEM. 

This is despite the news of the additional release of $500 million to various sectors in its determination to address the backlog of verified foreign exchange transactions by the Central Bank of Nigeria (CBN). 

This represents 33.87% or N456.73 weaker than N891.90 recorded at the close of trading on Friday. 

The observed depreciation is unparalleled and stands as the lowest point in the historical performance of the Naira, reflecting the severity of the current economic challenges. 

The sixth time the Naira crossed the N1,000/$ threshold  

 This latest depreciation marks the sixth time the Naira has breached the N1,000/$ threshold in the official market, highlighting a persistent trend of weakness.  

The first instance occurred on Friday, December 8th, 2023, when the currency reached a historical low of N1,099.05 per dollar. This was followed by a brief reprieve before a second depreciation on Thursday, December 28th, 2023, closing at N1,043.09 per dollar.   

These developments represent a significant turning point for the Naira.  

 Despite recent efforts by the Central Bank of Nigeria (CBN) to bolster the foreign exchange market through interventions, the currency’s downward trend persists, prompting concerns about its potential impact on the broader economy.  

This development is likely to aggravate existing inflationary pressures and further strain household budgets, particularly for those reliant on imported goods.   

The first instance occurred on Friday, December 8th, 2023, when the currency reached a historical low of N1,099.05 per dollar. This was followed by a brief reprieve before a second depreciation on Thursday, December 28th, 2023, closing at N1,043.09 per dollar.   

These developments represent a significant turning point for the Naira.  

 Despite recent efforts by the Central Bank of Nigeria (CBN) to bolster the foreign exchange market through interventions, the currency’s downward trend persists, prompting concerns about its potential impact on the broader economy.  

This development is likely to aggravate existing inflationary pressures and further strain household budgets, particularly for those reliant on imported goods.   

The implications for businesses, both large and small, are also significant, with potential increases in production costs and challenges in maintaining profitability.   

The domestic currency depreciated by 33.87% to close at N1,348.63 to a dollar at the close of business, data from the NAFEM where forex is officially traded, showed.   

This represents an N456.73 loss or a 33.87% decline in the local currency compared to the N891.90 it closed on Friday.   

The intraday high recorded was N1414.94/$1, while the intraday low was N701/$1, representing a wide spread of N713.94/$1.   

According to data obtained from the official NAFEM window, forex turnover at the close of the trading was $64.29 million, representing a 36.33% increase compared to the previous day.   

However, the naira depreciated at the parallel forex market where forex is sold unofficially, the exchange rate depreciated by 2.76%, quoted at N1,450/$1, while peer-to-peer traders quoted around N1,466.20/$1.  

This represents an N456.73 loss or a 33.87% decline in the local currency compared to the N891.90 it closed on Friday.   

The intraday high recorded was N1414.94/$1, while the intraday low was N701/$1, representing a wide spread of N713.94/$1.   

According to data obtained from the official NAFEM window, forex turnover at the close of the trading was $64.29 million, representing a 36.33% increase compared to the previous day.   

However, the naira depreciated at the parallel forex market where forex is sold unofficially, the exchange rate depreciated by 2.76%, quoted at N1,450/$1, while peer-to-peer traders quoted around N1,466.20/$1.  

What you should know 

Nairametrics reported that the Central Bank of Nigeria (CBN) said that it has released 500 million dollars to various sectors in its determination to address the backlog of verified foreign exchange transactions. 

Mrs. Hakama Sidi-Ali, CBN’s Acting Director of the Corporate Communications Department, said this in a statement on Monday in Abuja. 

According to the News Agency of Nigeria (NAN), Sidi-Ali said this comes barely a week after the apex bank paid approximately 2.0 billion dollars to settle outstanding commitments across manufacturing, aviation, and petroleum sectors. 

Mrs. Hakama Sidi-Ali, CBN’s Acting Director of the Corporate Communications Department, said this in a statement on Monday in Abuja. 

According to the News Agency of Nigeria (NAN), Sidi-Ali said this comes barely a week after the apex bank paid approximately 2.0 billion dollars to settle outstanding commitments across manufacturing, aviation, and petroleum sectors. 

She said that the management of the CBN was committed to settling all legitimate foreign exchange backlogs within a short time frame. 

A comprehensive strategy to improve liquidity 

She said the CBN had begun implementing a comprehensive strategy to improve liquidity in the Nigerian foreign exchange markets in the short, medium, and long terms. 

“As the Governor said, the CBN’s focus is on addressing fundamental issues that have hindered the effective operation of the Nigerian FX markets over the years,” she said. 

Sidi-Ali said that the forex market reforms were designed to streamline and unify multiple exchange rates, foster transparency, and reduce arbitrage opportunities. 

She expressed confidence that a stable exchange rate would boost investor confidence and attract foreign investment. 

“As the Governor said, the CBN’s focus is on addressing fundamental issues that have hindered the effective operation of the Nigerian FX markets over the years,” she said. 

Sidi-Ali said that the forex market reforms were designed to streamline and unify multiple exchange rates, foster transparency, and reduce arbitrage opportunities. 

She expressed confidence that a stable exchange rate would boost investor confidence and attract foreign investment. 

She urged all participants in the market to play by the rules, adding that transparency in the market would enable the fair determination of exchange rates. 

[eventtimeltd]

Events and Activities Coming Up in Dhaka, Bangladesh. 24 Best exhibition stall Services To Buy Online. Exhibition Stand Fabrication Bangladesh. Best Exhibition Stand - Booth - Stall Interior Design. Exhibition Stall Fabrication Kiosk Pavilion Trade Fair Stall. Exhibition Stands in Dhaka - Bangladesh. Best Exhibition Stall Designer Company in Dhaka. Exhibition Stall Fabrication in Dhaka Bangladesh 2023. Exhibition Stall Dhaka Stand Builders in Dhaka Bangladesh. Exhibition Stall For Sale. Exhibition Stall Design. Exhibition Stall. Exhibition Stall Rent Tds Rate. Exhibition Stall Invitation Message. Exhibition Stall Ideas. Exhibition Stall Design And Fabrication. Exhibition Stall Price. Exhibition Stall 3d Model Free Download. Exhibition Stall Decoration Ideas. Exhibition Stall Designer In Mumbai. Tds On Exhibition Stall Rent. Invitation For Exhibition Stall. Invitation Message For Exhibition Stall. Thanks Letter For Visiting Exhibition Stall. Thank You Email For Visiting Exhibition Stall. 3 Side Open Exhibition Stall Design. Things Required For Exhibition Stall. Exhibition Stall. Trade Shows. Fair Stall. Sial Paris 2022. Conexpo 2023. Pack Expo 2022. Anuga. Booth Design. K Show 2022. Pack Expo. Consumer Electronics Show. Anuga 2023. Expo East. Trade Show Displays. Expo East 2022. Fancy Food Show 2022. Outdoor Retailer. Fancy Food Show. Magic Las Vegas. Vision Expo East 2022. Exhibition Booth. Trade Show Booth. Plma 2022. Consumer Electronics Show 2023. Outdoor Retailer 2022. Nafem 2023. Trade Fairs Fancy Food Show 2023. Pack Expo 2023. Vision Expo East 2023. Outdoor Retailer 2023. Exhibition Stall Design. Asd Market Week. Summer Fancy Food Show 2022. Licensing Expo. Packexpo. Global Pet Expo 2022. World Travel Market 2022. Nuremberg Toy Fair 2023. Itb Asia. Licensing Expo 2022. Trade Shows Near Me. Trade Show Booth Design. Iaapa Expo. Winter Fancy Food Show 2023. Exhibition Booth Design. Wwett Show 2023. Natural Products Expo East. National Hardware Show 2023. Vicenzaoro 2022. Trade Shows 2022. Isc East. Asd Market Week 2022. Texworld Paris. Itb Asia 2022. Nafem Show 2023. Plma 2023. Iaapa Expo 2022. Global Pet Expo 2023. Trade Show Giveaways. Octonorm Stall. Magic Trade Show. Wwett Show 2022. Vicenzaoro 2023. January Furniture Show. Ces Show 2023. We Provide Every Where Our Services In Bangladesh. Make Your Dream To Bring Our Touch We would love to be the venue for your special day. Call or email us today for more information! All Event Solution In One Platform For More Details: 01844542491 : 01844542498 Visit our Website: www.eventtimebd.com E-mail: eventtimeltd@gmail.com Visit us directly or make a booking over the phone today. Office Address: 04-B/A, (2nd Floor), Mazar Road, Mirpur, Bangladesh, 1216 To visit our Facebook page: https://www.facebook.com/eventtime20 Terms & Conditions: Deduction of any item from the package will reduce the price. Artificial flowers will be used but you can exchange them for real flowers. The package price will increase. Package prices may vary slightly due to stage size, shape and location. Any extra cost charged by the venue/hall is not included in the package With Love Team 𝗘𝗩𝗘𝗡𝗧 𝗧𝗜𝗠𝗘 Stay safe

fairstall #fairstalls #fairstallsigns #fairstallsetup #fairstallready #fairstallearing #fairstalldesign #fairstallholders #fairstallbystudents #fairstallminniemouse #exhibitionstall #exhibitionstalls #exhibitionstalldesign #exhibitionstalldesigns #exhibitionstalldesigner #exhibitionstallfabrication #exhibitionstallfabricators #exhibitionstalldesigningcompany #exhibitionstalldesigningservices #exhibitionstalldesignandfabrication #exhibitionstand #exhibitionstands #exhibitionstanddesign #exhibitionstandbuilder #exhibitionstandsdesign #exhibitionstandbuilders #exhibitionstanddesigners #exhibitionstandcontractor #exhibitionstandsandevents #exhibitionstandconstruction

[bardesigners]

Looking for the perfect #glassfroster? In this live product review at #NAFEM 2023, I'll show you the new way to save space and sanitize glassware while eliminating maintenance and liability.

[total-food-service]

NAFEM Pulls Plug On ’21 Event With Eyes Toward 2023 Return

NAFEM Pulls Plug On ’21 Event With Eyes Toward 2023 Return

For Rob Connelly, the last Friday in July was like none other in his illustrious management career. He could see the news about spikes from the Delta variant. As president of the nation’s food equipment manufacturers trade association with a major trade show set for the end of August, Connelly was on the hot seat. So NAFEM’s president took to the phones through that weekend with a goal of having…